US to Increase Aid to Egypt
The United States said it would try to “accelerate” some of its economic aid to Egypt to revive Cairo's economic situations, which passed through harsh time following the September attacks in New York and Washington.
US is seeking to hasten new cooperation programs to help shore up Egypt's ailing economy, Secretary of State Colin Powell said Thursday following a meeting at the State Department with Egyptian Foreign Minister Ahmed Maher.
"We are aware that Egypt is having some financial and economic difficulty now (with) the drop in tourism and we are looking at ways that we can accelerate some of our economic cooperation and other programs," Powell said.
"We want to be as responsive as we can."
The State Department said after a November 2 visit by Egyptian Minister of Economy and Foreign Trade Yousef Boutros-Ghali that it would boost efforts to help as Egypt struggles to cope with a decline in tourism due to terrorism fears.
Maher said, Egypt was not seeking more American aid, but merely wanted the United States to be more flexible about the assistance. American aid to Egypt amounts to about $2 billion a year – Albawaba.com
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