Egypt and the United States sign framework agreement worth up to $625 million
The five-year arrangement prioritises water management, energy, artificial intelligence and science-based agriculture.
Egypt and the United States have signed a framework agreement on "strategic objectives" intended to advance mutual prosperity, under which American contributions could reach $625 million over five years.
The agreement was signed on Wednesday in the New Administrative Capital by Dr Samar Al Ahdal, Deputy Foreign Minister for International Cooperation, and Robert Silverman, chargé d'affaires at the US embassy, in the presence of Foreign Minister Badr Abdelatty and the ministers of finance, supply and internal trade, and higher education.
Mr Silverman said it was the first of what Washington hoped would be annual agreements, with $125 million in grants committed in the first round. "We hope this agreement will expand modernisation here, particularly in the high-tech sectors, and also to find new opportunities for private sector US investment in Egypt," he said.
Foreign Ministry spokesman Nader Zaki said the arrangement would bring American institutional and technological expertise to bear on Egypt's water, energy and infrastructure systems, and support the modernisation of education, health and governance. Priority areas include water management, artificial intelligence, energy and food security through science-based agriculture.
The sum is consistent with the $125 million in annual economic assistance the United States has previously provided through USAID programmes. Egypt separately receives about $1.3 billion a year in US military aid, a distinct arrangement in place since 1979.