BP will invest some USD 13 bn in Egypt before 2020, a sum over and above the USD 30 bn it has committed to date, the UK embassy in Cairo said in a statement released overnight that also reveals additional details on the USD 12 bn IMF loan package and makes clear that Britain made certain Egypt committed to making good on the arrears it owes energy producers as a condition of the facility.

Message from the English: We like you. More than the IMF likes you. Now pay our IOCs: The statement reads in part: “UK investment dwarfs IMF support with USD 30.5 bn investment flows … to Egypt since 2011 and a strong pipeline of recent announcements. The past month, has seen three major British companies — Vodafone, Unilever and GlaxoSmithKline — invest a total of EGP 3.785 bn in Egypt, while BP has invested approximately USD 30 bn in Egypt to date, with plans for a further USD 13 bn before 2020.

UK pushed for social protection, inclusion … and paying the oil companies: “The UK’s Executive Director’s intervention [at the IMF executive board level] led a particular focus [in conditions attached to the IMF loan] on ensuring social protection, inclusion, and creating a positive climate for investment as the key fuel for Egypt’s economy long-term.” The embassy’s statement said the UK “particularly welcomes” Egypt’s “commitment of an additional 1% of GDP towards protecting the poorest citizens from rising inflation, new measures that will increase female labour force participation, and the plan to clear outstanding arrears to International oil companies.”

Quoth the embassy: “Investors globally have noticed and will be reassured to know that the Egyptian Government honours its commitments.” Sadly, we can’t mock the world-class, tone-deaf condescension, because they’re right. Happy Brexit, y’all.