A top official at the USAID, Robert Van Horn, has said that 200 million dollars have been allocated to Egypt as loans for the private sector in addition to 400 millions for supporting the country’s budget, reported the the Saudi Press Agency (SPA).
These aids have been aimed at alleviating the negative impacts of the terrorist attacks in Washington and New York on September 11 on Egypt’s economy.
The official was quoted as saying that the USAID has donated the Egyptian private sector the sum of 2.676 billion dollars in aid between 1986 and end of 2000 to finance capital imports and industrial goods. Horn pointed out that the program originally targeted the public sector, which has secured 3.9 billion dollars in aids during the period between 1975-1993. The program was then moved towards the private sector to go in step with the government orientation to increase its role in the economic development -- Albawaba.com
