VOL. XXXV

NO. 38

22-JUNE-1992

Financial and Banking News

Aid Flows

US Congress Approves $1.7bn in Civilian/Military Assistance to Egypt

The US Congress has approved a request by the US administration to allocate$815mn in financial assistance to Egypt for the fiscal year 1993, which startsthis October. Egypt will also receive $915mn in military aid in fiscal 1993, inaddition to US military arms and equipment which are being withdrawn from USoverseas military supplies in the Middle East and Europe.