|04 August, 2019

US investments in Egypt reach $22bln end 2018

The US Agency for International Development has provided Egypt with grants worth $30bln

Employees work at their counters at a bank in Cairo February 20, 2011.

Employees work at their counters at a bank in Cairo February 20, 2011.

REUTERS/Suhaib Salem

Cairo –  US investments in Egypt stood at about $22 billion at the end of 2018, the North African nation’s minister of investment Sahar Nasr said in a statement on Sunday.

During fiscal year 2017/2018, a slew of US companies injected new investments worth $1 billion to Egypt, Nasr added.

The US Agency for International Development (USAID) has long been a major economic partner of Egypt with total grants amounting $30 billion, she revealed.

It is noteworthy Egypt and the US have signed four grant agreements worth $60 million to finance higher education, science, technology, health, commerce, and investment sectors.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.