U.S. backs Egypt on its road to economic growth: State Department official

The U.S. supports Egypt as it works to achieve its economic growth targets, deputy assistant secretary and coordinator for foreign assistance at the U.S. State Department Richard Albright has told Egyptian investment minister Sahar Nasr Monday.

Albright, who is heading a US delegation currently visiting Cairo, highlighted Egypt-US bilateral cooperation, including the signing of eight MoUs worth $121.6 million last month between Egypt and USAID, including on education, health and investments.

Nasr discussed with Albright Egypt’s economic reform programme and efforts to improve the investment climate, including a new investment law issued in May.

The new investment law’s executive regulations are expected to be issued this week.

The two officials also discussed the Egyptian-American Enterprise Fund’s investments to support SMEs.

Source: Ahram Online