Increased transparency from the Egyptian government on military spending could be the key to obtaining more aid from the US, members of Congress said, according to Daily News Egypt. Congressman Juan Vargas claims that the US funnels vast amounts of aid into Israel due to its transparency in disclosing where the funding will be directed, particularly in its anti-terror operations. US President Donald Trump’s keenness on maintaining a good relationship with President Abdel Fattah El Sisi also presents a “unique opportunity” for Egypt to be the beneficiary of increased aid from the US, particularly if Egypt proves to be successful in ongoing military operations, Congresswoman Claudia Tenney added.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…