US pledges $129M to support Egypt’s economic reforms
Updated 9/22/2024 9:09:00 AM
Arab Finance: The US government announced a $129 million investment in Egypt, provided through the United States Agency for International Development (USAID), during the US-Egypt Strategic Dialogue held in Cairo, as per a statement.
US Secretary of State Antony Blinken and Egyptian Foreign Minister Badr Abdelatty highlighted that the funding will support Egypt's economic reforms, enhance public education, improve public health services, and strengthen government institutions and transparency.
The dialogue emphasized the US' commitment to Egypt's Vision 2030 for education, preserving cultural heritage, and boosting tourism.
Key announcements included US plans to equip nine additional STEM schools with advanced laboratory equipment, upgrade 80 technical education schools, and expand University Career Centers to 19 more universities across Egypt.
These initiatives aim to prepare young Egyptians for future job opportunities.
Additionally, three US universities—the Illinois Institute of Technology, the University of Minnesota, and Drake University—are sealing agreements with local partners to establish branch campuses in Egypt, providing Egyptian students with access to American education.
In collaboration with Egypt's Ministry of Planning and Economic Development, USAID will continue to focus on joint priorities such as scholarships, teacher training, and research in water, clean energy, and climate change.
The investment will also promote innovation, entrepreneurship, and trade, particularly benefiting women and youth.
The US has invested over $30 billion in economic development assistance in Egypt since 1978, alongside strong security cooperation.
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