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Congressman: US should continue to authorize cash flow financing to Egypt

Monday 13-02-2017 - 05:16 PM
Al-Bawaba
Children from Egypt.
Children from Egypt. Source: WFP
Washington - While on a formal visit to Egypt now, Mr. Dana Rohrabacher; U.S. Representative for California's 48th congressional district expressed his support to Egyptian economy, calling for more strategic ties.

He submitted a resolution on cooperation with Egypt to boast its economy and counter terrorism. The resolution was referred to The U.S. House Committee on Foreign Affairs of the United States in US House of Representatives.

After listing numerous aspects about Egypt as a vital ally to US, Mr. Rohrabacher mentioned that the Egyptian economy has suffered tremendously in the past five years with an extreme slowdown in economic growth, a major reduction in foreign reserves, a diminishing inflow of income from tourism, a significant expense fighting terrorism, and management of a difficult economic transition with some, but not sufficient, assistance from the International Monetary Fund (IMF).
 

Congressman: US should

Rohrabacher calls on the House of Representatives to reaffirm its commitment to the fruitful alliance between Egypt and the United States; and send its thoughts and prayers to the victims of terrorism in Egypt.
He also calls the House of Representatives to stand with the people and the Government of Egypt in the face of terrorism.
He called the House of Representatives to assert the importance of continuing to provide Egypt with the current levels of military assistance;and to work for an increase to pre-fiscal year 2009 levels of United States economic aid to Egypt.

He calls on the House of Representatives President to reinstate cash flow financing (CFF) to Egypt in 2018, and afterwards;

He called the House of Representatives to reaffirm the importance of the United States providing a $10,000,000,000 loan guarantee for five years, and calls for the expansion of the QIZ program; and

He called  the House of Representatives to support greater academic cooperation between the United States and Egypt, to include the extension of more scholarships to Egyptian students studying in the United States.

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