May 19, 2011
Barack Obama is to offer Egypt and Tunisa aid packages worth billions of dollars as he tries to remodel America’s relations with the Arab world.
The US President will use a major policy speech to outline a $1bn (¬£600m) debt relief scheme aimed at helping Egypt invest in employment and entrepreneurs.
Washington will also loan or guarantee loans worth $1bn for Cairo to finance infrastructure development and boost jobs.
It is thought Mr Obama’s address will cover recent pro-democracy demonstrations in North Africa and the Middle East, as well as the death of Osama bin Laden, the influence of Iran and stalled peace talks between Israel and the Palestinians.
This article was posted: Thursday, May 19, 2011 at 3:25 am