Egypt's current account gap narrows, but overall BoP records deficit    Egypt's PM reviews debt reduction strategy, eyes more private investment    Egypt hosts international neurosurgery conference to drive medical innovation    Egypt, India discuss expanding industrial, investment partnerships    World Bank proposes Egypt join new global health initiative    Egypt's EDA discusses Johnson & Johnson's plans to expand investment in local pharmaceutical sector    I won't trade my identity to please market: Douzi    Sisi sends letter to Nigerian president affirming strategic ties    Egypt welcomes 25-nation statement urging end to Gaza war    Egypt, Senegal sign pharma MoU to unify regulatory standards    Egyptian pound ticks down in early Tuesday trading    Famine kills more Gaza children as Israel tightens siege amid global outrage    Kuwait's Crown Prince, Egyptian minister discuss strengthening cooperation    Egyptian Drug Authority discusses plans for joint pharmaceutical plant in Zambia    Egypt's FM seeks deeper economic, security ties on five-nation West Africa tour    Two militants killed in foiled plot to revive 'Hasm' operations: Interior ministry    Egypt foils terrorist plot, kills two militants linked to Hasm group    Egypt, Somalia discuss closer environmental cooperation    Egypt exports 175K tons of food in one week    Giza Pyramids' interior lighting updated with new LED system    Egypt's EHA, Huawei discuss enhanced digital health    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, Uruguay eager to expand trade across key sectors    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Obama proposes $800 million in aid for Arab Spring
US president asks Congress to maintain Egypt's $1.3 billion in annual military aid despite NGO furore, proposes over $800 million in economic aid to Arab Spring countries
Published in Ahram Online on 14 - 02 - 2012

The White House announced plans on Monday to help "Arab Spring" countries swept by revolutions with more than $800 million in economic aid, while maintaining US military aid to Egypt.
In his annual budget message to Congress, President Barack Obama asked that military aid to Egypt be kept at the level of recent years - $1.3 billion - despite a crisis triggered by an Egyptian probe targeting American democracy activists.
The proposals are part of Obama's budget request for fiscal year 2013, which begins 1 October. His requests need the approval of Congress, where some lawmakers want to cut overseas spending to address US budget shortfalls and are particularly angry at Egypt.
Obama proposed $51.6 billion in funding for the US State Department and foreign aid overall, when $8.2 billion in assistance to war zones is included. The "core budget" for the category would increase by 1.6 per cent, officials said.
Most of the economic aid for the Arab Spring countries - $770 million - would go to establish a new "Middle East and North Africa Incentive Fund," the president said in his budget plan.
Analysts said it was difficult to tell how much of the proposal was actually new money.
"As presented it's very difficult to determine if the Arab Spring fund is new wine in new bottles or old wine in new bottles," said John Norris, a former US foreign aid worker now at the Centre for American Progress.
The Middle East and North Africa Incentive fund "will provide incentives for long-term economic, political and trade reforms to countries in transition -- and to countries prepared to make reforms proactively," the White House budget document said.
The proposal said this approach "expands our bilateral economic support in countries such as Tunisia and Yemen, where transitions are already underway."
It would also build on other programmes for the area, including up to $2 billion in regional Overseas Private Investment Corporation financing, up to $1 billion in debt swaps for Egypt and approximately $500 million in existing funds re-allocated to respond to the region last year, the budget document said.
It did not say how the Middle East and North Africa Incentive Fund would be divided between countries, or give any other details of the plan.
Egypt has long been among the top recipients of US aid, getting about $1.6 billion annually - mostly in military assistance. In fiscal 2012, $250 million of aid approved for Egypt was economic; $1.3 billion was military and there was a $60 million "enterprise fund" approved by Congress.
No US assistance is moving to Egypt at the moment, US lawmakers and their aides said last week. Some legislators favour cutting off aid to Egypt entirely if it does not drop accusations against American democracy activists and lift a travel ban on them.
Obama continued the practice of putting proposed foreign assistance for war zones in a separate account. This account, known as the "Overseas Contingency Operations," includes $8.2 billion for the State Department and foreign aid.
It includes $3.3 billion for Afghanistan, $1 billion for Pakistan, and $4 billion for Iraq, where US troops have left the country but the State Department has picked up some of their functions, such as police training.


Clic here to read the story from its source.