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.