EGYPT – The United States has entered into five-year Inclusive Economic Governance bilateral assistance agreement with Egypt that is intended to support economic growth and women empowerment in the North African country.
According to a statement by US embassy in Egypt, the agreement was signed by the U.S. Agency for International Development (USAID) on behalf of the United States while Egypt was represented by its Ministry of International Cooperation.
Through the agreement, the United States will provide Egypt with US$22.8 million, money which will be used to improve the investment environment and empower women to join in the labor 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.”John Barsa – Acting USAID Administrator
Acting USAID Administrator John Barsa said, “The United States looks forward to continuing our 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.”
On her part, H.E Dr. Rania Al Mashat, Minister of International Cooperation, noted that the strategic partnership with the Government of the United States and USAID is sustained through forward-looking development programs that push forward inclusive economic growth in line with the Government’s vision.
“we identified seven priority sectors and allocated additional financing to execute more projects in health, education, higher education, science and technology, agriculture, governance, and trade,” H.E Dr. Mashat, added.
Over the past 40 years, the United States has invested over US$30 billion in Egypt’s development, funds which have been critical in bringing water and sanitation services to over 25 million Egyptians.
US investment in Egypt has also helped digitalize and grow the telecommunications sector, and brought electricity to millions of Egyptian homes among other contributions.
The economic growth and women empowerment agreement is the latest US support for Egypt and continues the four decades of partnership between the American and Egyptian people to bolster promote sustainable economic growth, empower women, and reduce poverty.
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