Obama to Offer Aid To Egypt and Tunisia

Lets keep the aid @ home….

“WASHINGTON (Reuters) – President Barack Obama will unveil an economic aid program for Egypt and Tunisia on Thursday as part of a broad effort to support democratic reform in the Middle East and North Africa, U.S. officials said.

Senior advisers to Obama, previewing parts of his speech, said Wednesday the United States would offer debt relief totaling roughly $1 billion “over a few years” to Egypt through a debt swap mechanism that would invest the money to boost youth employment and support entrepreneurs.

Washington would also loan or guarantee loans up to a total of $1 billion through the Overseas Private Investment Corp (OPIC) for Egypt to finance infrastructure development and boost jobs, the officials told reporters on a conference call.

Several billion dollars in additional financing would come from multilateral development banks as well.

The administration would also seek to foster trade and economic development throughout the region and encourage private sector investment, the officials said.”

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