Back to the complete issue
Tuesday, 2 November 2021

USAID is giving us USD 125 mn in fresh development grants

Egypt is getting seven grants worth USD 125 mn from the US to support education, health and other development projects, USAID and the International Cooperation Ministry said in statements yesterday.

The breakdown: Almost USD 50 mn of the money will go towards education, with USD 31 mn going to higher education and USD 17 mn being earmarked for basic education, the ministry said. A USD 28 mn grant will go towards stimulating trade and investment while USD 27 mn will be allocated to improving economic governance, the statement said, without providing further details. Smaller grants include USD 13 mn for health, USD 5 mn for agriculture and rural development, and USD 4 mn for joint Egyptian-American projects in science and tech.

This is the latest in a long history of funding from the US: The US government has provided USD 30 bn of finance to Egypt over the past 40 years, while USAID has invested USD 900 mn since the Sisi administration came to power in 2014.

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.