U.S. aid reduction may negatively impact common interests: FM

CAIRO – 23 August 2017: Egypt regrets decision by the United States to reduce some of the funds allocated under the U.S. assistance program to Cairo, considering the action as “misjudgment” that could have negative implications on common interests, according to a Wednesday statement by the Ministry of Foreign Affairs.

The statement said that the U.S. decision reduces the fund “whether by directly reducing some components of the Economic Support Fund, or withholding the disbursement of some components of the Military Assistance Program.”

“Egypt considers this step as a misjudgment of the nature of the strategic relations that binds the two countries over decades, and reflects the lack of understanding of the importance of supporting the stability and success of Egypt. It also underestimates the size of economic and security challenges facing the Egyptian people, and implies a mixing of cards that may have negative repercussions on achieving Egyptian-American interests,” read the statement.

The statement added that Egypt appreciates the importance of the step taken by the U.S. to ratify the general framework of the 2017 aid program, and that it looks forward to the U.S. administration’s engagement with the program through recognizing its importance to both countries’ strong relations.