USAID offers egypt le 400 million to boost budget

US Ambassador to Egypt David Welch said Monday the United States Agency for International Development (USAID) offered LE 400 million as an urgent aid to support Egypt's 2001 budget.

An agreement to this end was signed with the Ministry of Planning and International Cooperation, according to a statement by the US Embassy in Cairo.

The sum comes as part of the USAID programme in Egypt which, on its part, will try to ease the impact of the September 11 events on the Egyptian economy, said the statement.

The US administration feels happy to cooperate with the Egyptian government to help it overcome the current deficit, primarily prompted by the slash-down in tourism revenues, the statement quoted Welch as saying.

The USAID programme has been operating in Egypt since 1975.