Back to the complete issue
Sunday, 24 September 2017

US to reconsider resuming aid to Egypt

The US government is willing to “consider” unfreezing aid to Egypt that had put on hold last month, President Donald Trump told the press on Wednesday, according to Reuters. The US had decided last month to cut or withhold some USD 290 mn in civilian and military aid to Egypt for “failure to make progress on respecting human rights and democratic norms.” Word in the halls of power in both countries is that the move had more to do with Cairo’s ties to North Korea than it did with human rights, and Trump’s statement came less than one week after Cairo effectively cut ties with Pyongyang.

…What’s more, Egypt will soon receive some USD 13 mn from the US government under a USD 700 mn humanitarian aid package meant to help Syrian refugees, the State Department said in a statement picked up by Reuters.

The developments in the aid story comes despite a scathing US State Department memothat says human rights conditions in Egypt are “deteriorating” and accuses the country of “failing to protect free speech and its minorities, investigate abuses by its forces, or grant US monitors access to the conflict-ridden Sinai Peninsula.” The report was submitted to Congress in August but never publicly released, according to the Associated Press.

The State Department report appears not to have dampened talks between Trump and President Abdel Fattah El Sisi last Wednesday. On the sidelines of the annual UN General Assembly gathering in New York. Regional issues — including a glimmer of hope for peace to our east after Egypt mediated between Hamas and Fatah — were high on the agenda, according to a statement from the International Cooperation Ministry.

El Sisi also addressed world leaders at the UN’s High Level Event on Libya, declaring the 2015 peace agreement that set up the Government of National Accord as the “only acceptable framework” to end the conflict. The president stressed the importance of reaching resolution before Libya’s transitional phase officially expires on 17 December. El Sisi also asked the international community to support the Cairo-backed Libyan National Army. You can read the full address here in English (pdf) and Arabic.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.