Press Release
Finance Minister: US to write off 33% of Egypt’s debts within 3 years
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Minister of Finance, Dr. Samir Radwan said that the United States will write off nearly 33% of Egypt's debts – estimated at nearly USD 3 billion – within the next three years.
This came during talks Radwan held yesterday with David Lipton, the Special Adviser to US President Barack Obama, who is now visiting Cairo leading a US delegation to discuss details of the package of US economic aid to Egypt.
Radwan said that the talks touched on the mechanisms of how to convert nearly one billion dollars of US debts to finance a number of development projects. He added that talks also tackled the promotion of commercial partnership between Egypt and the United States.
This came during talks Radwan held yesterday with David Lipton, the Special Adviser to US President Barack Obama, who is now visiting Cairo leading a US delegation to discuss details of the package of US economic aid to Egypt.
Radwan said that the talks touched on the mechanisms of how to convert nearly one billion dollars of US debts to finance a number of development projects. He added that talks also tackled the promotion of commercial partnership between Egypt and the United States.
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