US to give Egypt $650 million in military aid

Congress will need to approve the move before it goes through.

US to give Egypt $650 million in military aid

World Bulletin / News Desk

Around $650 million in foreign military financing will be released to Egypt pending congressional notification and approval, according to the U.S. State Department.

"The $650 million from FY2014 FMF will be the first of this funding to move forward," said State Deparment Spokeswoman Jen Psaki in a statement delivered Thursday.

The Egypt bilateral foreign assistance budget for fiscal year 2014 is approximately $1.5 billion, including $1.3 billion in foreign military financing.

Some $200 million is earmarked as economic support funds, $7 million for other security assistance programs, including International military education and training, international narcotics control and law enforcement, and nonproliferation, antiterrorism, demining and related programs.

Last Mod: 25 Nisan 2014, 09:59
Add Comment