USAID, Egypt sign $22.8 million financing agreement
The U.S. Agency for International Development (USAID) signed on Wednesday with Egypt’s Ministry of International Cooperation an agreement to add $22.8 million to the five-year Inclusive Economic Governance bilateral assistance agreement.
In line with Egypt’s Vision 2030, this funding is intended to improve the investment climate and empower Egyptian women to join in the labour force.
“We are pleased to announce that the United States is contributing an additional $22.8 million to support Egypt’s economic growth and women’s empowerment, as part of a five-year agreement to advance economic growth that benefits all Egyptians.” Acting USAID Administrator, John Barsa, said.
Barsa also added that the U.S. looks forward to continuing its partnership to support effective and transparent public institutions, empower women and youth, encourage cooperation between different faith communities, and ensure that all Egyptians benefit from essential services.
Over the past 40 years, the United States has invested over $30 billion in Egypt’s development, U.S. Ambassador to Cairo, Jonathan R. Cohen said.
It helped bring water and sanitation services to over 25 million Egyptians, helped digitalise and grow the telecommunications sector, brought electricity to millions of Egyptian homes and businesses, preserved historic sites, Cohen added. It also assisted farmers, built thousands of schools, trained over 100,000 teachers, and eliminated polio in Egypt, among other contributions.