US aid to Egypt intact, Director of USAID stresses

Director of the USAID in Egypt Willard Persson stressed yesterday that the volume of aid offered to Egypt has not been affected by the recent September 11 incidents, and the two countries' governments are currently studying the repercussions of these incidents on the Egyptian economy and ways of helping it.

Persson who visited Beni Suef yesterday, categorically denied reports on some congressmen's protest to the aid ($655 million) Egypt gets this year.

"It is essential to Egypt to provide proper investment climate for reaching a higher rate of growth, and the people's Assembly is currently debating some legislations that will create more investment opportunities for the private sector which could offer twentyfold the US aid," he added.