US offers $ 202 million to support Egypt's economic reform programme privatization

The USA has offered Egypt $ 202 million including $ 150 million to help the government's efforts to combat money laundering and $ 52 million to boost investments via the privatization programmes.

In a press release issued yesterday, US Ambassador in Cairo David Welch praised the Egyptian government's efforts and important steps for combating terrorism.

"The US appreciates the important steps taken by the Egyptian government, including the money laundering law recently passed," Welch said.

The US aid is part of a development programme being run by the US Agency for International Development (USAID).

It is also part of the $ 959 million pledged by the united states during the donors conference, hosted by Sharm El-Sheikh in January, to help the Egyptian economy overcome the impacts of the Sept.11 attacks.