Egypt to Receive $150M US Aid

Egyptians celebrate after Hosni Mubarak resigned last week as the country's president. The U.S. government has pledged to provide $150 million to support Egypt's transition to democratic rule. Photo by: Mohamed Adel

U.S. Secretary of State Hillary Clinton announced Feb. 17 that her nation would provide $150 million to support Egypt’s transition to democratic rule.

“It’s very clear that there’s a great deal of work ahead to ensure an orderly, democratic transition. It’s also clear that Egypt will be grappling with immediate and long-term economic challenges,” Clinton said after briefing lawmakers on Capitol Hill, according to Reuters.

“I’m pleased to announce today we will be reprogramming $150 million for Egypt to put ourselves in a position to support the transition there and assist with their economic recovery,” Clinton said.

Bill Burns, State undersecretary for political affairs, and David Lipton, a White House adviser on international economic affairs, will travel to Egypt next week to consult with various stakeholders on how to spend the funding.

The African Development Bank has also expressed readiness to help promote democratic governance in Egypt.

“As Egypt embarks on that process, the Bank alongside all Egypt’s friends and partners stands ready to engage fully with the Egyptian people to assist the country to deal with its immediate challenges,” the bank said in a Feb. 17 statement.

Read more development aid news.

About the author

  • Ma. Rizza Leonzon

    As a former staff writer, Rizza focused mainly on business coverage, including key donors such as the Asian Development Bank and AusAID.