Subscribe free to our newsletters via your
. Earth Science News .

US banks $584 mln in Egypt aid for safe-keeping
by Staff Writers
Washington (AFP) Oct 01, 2013

The United States is depositing $584 million in remaining 2013 military aid for Egypt into a federal bank account as the US administration reviews whether to release the funds, an official said Tuesday.

The final tranche of some $1.3 billion in annual military aid to Egypt has not yet been disbursed amid political upheavals in the North African nation.

And President Barack Obama's administration is still reviewing the status of the US assistance to Cairo after the military's July ouster of ex-president Mohamed Morsi and a crackdown on Islamists.

But with the end of the fiscal year looming, the State Department decided to protect the funds by depositing them in an account it controls in order to stop them being gobbled up when the books were closed on Monday, September 30.

"The end of the fiscal year was yesterday, so we did recently obligate the remaining FY 2013, which would expire on September 30th unless obligated," State Department spokeswoman Jen Psaki said.

But she insisted "the president still has flexibility here. We still have the ability to control kind of how this is used."

The funds are being placed in a federal reserve account which the US government controls, pending Obama's decision on whether to resume aid to the Egyptian military, Psaki said.

The annual $1.3 billion in US military aid is spent mostly on contracts with US firms to equip Egyptian forces. There is a further $250 million in economic assistance to Cairo, which has not been affected.

But Psaki stressed the outstanding $584 million in military aid had not yet been allocated to specific deals.

"No decision has been made about that. It still is under review," she told reporters.

"It typically goes to a federal account, but it's not there yet. And either way, we still would approve purchases."

In return for more than 20 years as a top aid donor to Egypt, Washington has benefited from peace between Israel and Egypt, priority access to the Suez Canal and valuable anti-terrorism cooperation.

But Obama, in a speech to the United Nations last week, linked continued US support for Egypt to the interim military leadership's willingness to return to democracy.

The United States had "purposely avoided choosing sides" after the military's July 3 overthrow of Morsi, but warned "our support will depend upon Egypt's progress in pursuing a democratic path," Obama said.


Related Links
Bringing Order To A World Of Disasters
A world of storm and tempest
When the Earth Quakes

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

China launches satellite to monitor natural disaster
Jiuquan, China (XNA) Sep 30, 2013
A satellite for natural disaster monitoring was successfully launched into orbit at 12:37 p.m. Wednesday, China's Jiuquan Satellite Launch Center has announced. The satellite Kuaizhou I, or speedy vessel I, will be used to monitor natural disasters and provide disaster-relief information for its user, the National Remote Sensing Center of China, a public institution under the Ministry of S ... read more

US banks $584 mln in Egypt aid for safe-keeping

China launches satellite to monitor natural disaster

Australia and Indonesia hold conciliatory discussions

FBI releases chilling video of navy yard shooter

New sensor could prolong the lifespan of high-temperature engines

Paradigm shift: Need something in space? Print it, don't ship it

China to be world's top gold buyer this year: experts

NGC Completes Safety of Flight Testing on Common Infrared Countermeasure System

Global study reveals new hotspots of fish biodiversity

Future sea level rises should not restrict new island formation in the Maldives

Malaysia pays $133 mn after delays to troubled dam

Breathing underwater: Evidence of microscopic life in oceanic crust

Warming hits Greenland's caribou

The deep Greenland Sea is warming faster than the World Ocean

Putin: Russia committed to Arctic environmental protection

Late Cretaceous Period was likely ice-free

Discovery offers bio-solution to severe canola crop losses

First step to reduce plant need for nitrogen fertilizer uncovered

Sustainable livestock production is possible

Economic rewards of better land management

Tropical Storm Jerry forms in Atlantic

Typhoon hits Vietnam after leaving dozens missing

Pakistan buries victims of new quake

Dozens missing as boats sink in South China Sea typhoon: Xinhua

Canada reinforces African Union forces in Somalia

Disgruntled Malian troops fire weapons, kidnap officer

Ugandan officers court-martialed over alleged coup plot

Nigeria army says verifying credibility of new Boko Haram video

Roma families face wholesale expulsion from France

Genetic study pushes back timeline for first significant human population expansion

Your brain digitally remastered for clarity of thought

Findings in Middle East suggest early human routes into Europe

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement