The finances of the U.S.’s relationship with Egypt
The U.S. say that it would reconsider sending aid to the Arab country when the Egyptian protests start. There’s yet to be any official decision. Meanwhile, check out this FAQ the investigative journalism group ProPublica put together on the facts and figures of U.S. aid to Egypt.
Here are some of the numbers:
-The U.S. has been giving Egypt an average of $2 billion a year since 1979, when Egypt struck a peace treaty with Israel.
-A bulk of that — about $1.3 billion annually — goes towards the Egyptian military. (This Reuters column gives more detail what kind of equipment this money goes toward.)
-From 1999 to 2009, an average of $24 million of foreign aid was for promoting democracy and civil society in Egypt.
-Economic aid — i.e. increasing jobs and wages — amounts to a few hundred million.
After Israel, Egypt receives the most financial assistance from the U.S.
Check out Marketplace’s coverage of the protests here.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.
Give today and get our limited edition tote.