‘U.S remains Egypt’s reliable and long-term partner’: Chargé D’Affaires in Cairo

CAIRO - 23 May 2022: Chargé D’Affaires at the U.S. Embassy in Cairo Nicole Shampaine stated Sunday that the United States had invested $80 billion in Egypt over the years, so as $30 billion were directed to economic development, while the rest was allocated to national defense. 

 

Shampaine’s statements came during an event held by the Ministry of Planning and Economic Development on alternative financing to sustainable development. The American diplomat noted that her country is currently particularly interested in investing in green growth and green development. 

 

In that context, the envoy lauded Egypt for its keenness on promoting green economy, showcasing that an American green tech delegation, that visited the country last week, was met by Prime Minister Mostafa Madbouli and seven ministers, including the Minister of Foreign Affairs Sameh Shokry and Minister of Planning and Economic Development Hala al-Said. 

 

Equally, the U.S chargé d’affaires underscored that “broad private sector participation is crucial to meet our developmental goals.” 

 

Shampaine pointed out that the United States helped Egypt with devising “new innovative financial instruments” such as the sovereign fund and the SDGs bonds. 

 

The diplomat added that her country has also assisted Egypt introduce in 2008 the public-private partnership (PPP) department at the Finance Ministry, which helped build desalination plants among other projects. 

 

Shampaine highlighted that joint work is underway to broaden Egypt’s financial ecosystem. “The U.S remains Egypt’s reliable and long-term partner,” the charge d’affaires stipulated.