Obama says US will provide more military aid to Egypt

By REUTERS
March 31, 2015 21:59

WASHINGTON -  US President Barack Obama on Monday said he would ask the US Congress for $1.3 billion per year in military aid for Egypt and said he would lift holds on aircraft, missiles and tanks for Cairo in place since October 2013, the White House said in a statement.

Obama also said that the United States would discontinue starting in fiscal 2018 Egypt's use of cash flow financing, a financial mechanism that allows Egypt to buy equipment on credit, the White House said.


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