Egyptian president promotes turnaround, but Washington is concerned about pace of reform
Saudi Arabia, Kuwait and the United Arab Emirates pledged $12 billion to help stabilize Egypt’s economy, in the latest moves by these Persian Gulf states to rally behind Cairo’s general-turned-president, Abdel Fattah Al Sisi.
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| A model of a new Egyptian city is displayed at the opening of the Egypt Economic Development Conference in Sharm El-Sheikh. Photo: Reuters |
But the Obama administration didn’t provide any new economic or military assistance to Egypt at an international conference on the Red Sea, highlighting the continued concern in Washington about the pace of political reform in the country.
Secretary of State John Kerry announced no new U.S. financial aid for Cairo after holding a bilateral meeting with Mr. Sisi in the resort town of Sharm el-Sheikh.
Washington also continues to hold back providing new military assistance to Egypt, which is facing threats from Islamic extremists both in neighboring Libya and the Sinai Peninsula.
Mr. Kerry led a delegation of U.S. executives attending the investment conference, including representatives from General Electric Co., Microsoft Corp. and Coca-Cola Co.
“The United States is committed to supporting Egypt’s economic reforms, and I think that we can already see from what is happening that those are taking hold,” Mr. Kerry said, speaking at the tail end of a long list of Arab monarchs and African statesmen.Read the rest of the story HERE and follow links to two related stories below:
Egypt unveils plan to build new capital
U.S. to Decide Soon on Restoring Military Aid to Egypt
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