US Decision to Cut Financial Aid to Egypt to Affect Bilateral Ties – Cairo

The US decision to cut financial assistance to Egypt will have a negative impact on Cairo-Washington relations and bilateral cooperation, the Egyptian Foreign Ministry said in a statement on Wednesday.

CAIRO (Sputnik) – On Tuesday, media reported that the United States decided to reduce the financial aid to Egypt by almost $100 million and delay the transfer of the rest $195 million.

The US decision "may have negative consequences for achieving joint Egypt-US interests," according the statement.

The Foreign Ministry expressed a hope that the United States understood the importance of the financial support for the bilateral relations.

"Egypt believes that these measures reflect an underestimation of the strategic relations that have been connecting two countries for decades, and an approach that lacks clear understanding of the importance to support stability in Egypt," the statement added.

The US refusal to provide Egypt with financial aid is reportedly caused by the US officials’ disappointment with the situation in the field of guaranteeing civil liberties in the country, particularly, with the law restricting the activities of non-governmental organizations (NGOs) that was adopted in May.