Financial And Banking News

AID FLOWS

US Grants Egypt $649mn 

The US Agency for International Development (USAID) is to extend $649mn in grants to Egypt under an agreement signed on 21 September. The first tranche of the agreement covers $260mn for economic stability and growth projects, and includes $150mn for a commodity import program as well as a $110mn cash transfer frozen during the previous year pending economic reforms. The second tranche includes $224mn for infrastructure...