Egyptian TV presenter Amr Adib denounced recent reports by US media which urged cutting the military aid provided by the US administration to Egypt, claiming that it is worth over $40 billion. Adib, however, explained that Egypt is receiving this aid as a part of the Egypt–Israel Peace Treaty (Camp David accords) with the auspices of the the United States. The US dedicates a large proportion of economic and military aid for both Egypt and Israel, Israel receives $3 billion annually, while Egypt receives $2.1 billion, made up of $815 million in economic aid and $1.3 billion in military aid. “The aid value which is $1 billion is not a big deal in Egypt, as the government adds the same value to subsidize the bread system,” stated Adib. Adib said that Egypt does not critically need the aid, as it’s better to pour US investments into the country with bigger funds.

Source: Egypt Independent April 02, 2018 13:52 UTC