- Sun Mar 03, 2013 2:46 pm
#19939
CAIRO – Secretary of State John Kerry said Sunday the United States will give Egypt $250 million in additional aid , following President Mohammed Morsi's pledges for political and economic reforms
Kerry cited Egypt's "extreme needs" and Morsi's "assurances that he plans to complete the IMF process" when he told the president that the U.S. would provide $190 million immediately followed up with $450 million in the near future "in a good-faith effort to help the Egyptian people at this difficult time."
Separately, the top U.S. diplomat announced $60 million for a new fund for "direct support of key engines of democratic change," including Egypt's entrepreneurs and its young people. Kerry held out the prospect of U.S. assistance to this fund climbing to an additional $300 million by year's end.
