The Egyptian economy rests on firm grounds, but is currently facing temporary challenges, which calls for the support of all friendly countries, including the United States, Egypt's main economic partner, the Minister said.

Dr. Radwan discussed with the US official a number of cooperation issues, including sovereign guarantees to be provided by the United States to US investors against political risks, which should help accelerate the growth of the Egyptian economy and increase its ability to attract more foreign investments.

The minister also discussed the prospects of a plan to convert Egypt's US debts into finance for eco-friendly development projects, including energy generation from renewable sources, and low-income (rather than low-quality) housing projects, with the necessary power being supplied from renewable energy sources (solar, thermal or aerial). This comes within the framework of the government's efforts to restructure slum areas and provide decent housing for low-income brackets of the public, which currently tops the government's priorities, he noted.

Radwan is looking forward to meeting the US Assistant Treasury Secretary during a forthcoming visit to Washington DC to participate in the annual meetings of the International Monetary Fund and the World Bank, due mid April, he said.

In response, Mr. Collyns said the United States wants to lend support to Egypt in this crucial transitional stage, pointing out that the US government is having intensive talks with its Egyptian counterpart on the mechanism of strengthening the Egyptian economy at present to overcome repercussions of recent events and restore earlier growth rates, in the light of the package of measures adopted by the Egyptian government to revitalize the economy.