Obama Proposes $800m In Aid For Arab Spring
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The Obama administration has asked the Congress for a $800 million ‘Middle East Incentive Fund’ – a fund that would help ‘Arab Spring’ countries in transition and create incentives for long-term economic, political and trade reforms.
As part of America’s 2013 fiscal plan, President Barack Obama asked Congress for $800 million for the Arab Spring countries engulfed in revolutions, while asking to maintain $1.3 billion in military aid to Egypt.
The Obama administration has asked the Congress for a $800 million ‘Middle East Incentive Fund’ – a fund that would help ‘Arab Spring’ countries in transition and create incentives for long-term economic, political and trade reforms.
As part of America’s 2013 fiscal plan, President Barack Obama asked Congress for $800 million for the Arab Spring countries engulfed in revolutions, while asking to maintain $1.3 billion in military aid to Egypt.
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The proposed budget, which begins in October, is under heavy scrutiny from U.S. lawmakers who are looking to trim the size of the budget.
According to the White House budget document:
[quote] [The fund] resoinds to the Arab Spring by supporting the aspirations of the people in the Middle East and North Africa, with more than $800 million to assist countries in transition and create incentives for long-term economic, political and trade reforms. [/quote]Obama proposed $51.6 billion in discretionary funding for the U.S. State Department and foreign aid overall, when $8.2 billion in assistance to war zones is included. The “core budget” for the category would increase by 1.6 percent, officials said.
The proposal said this approach “expands our bilateral economic support in countries such as Tunisia and Yemen, where transitions are already underway.”
According to a Reuters report:
[quote] Egypt has long been among the top recipients of U.S. aid, getting about $1.6 billion annually, mostly in military assistance. In fiscal 2012, $250 million of aid approved for Egypt was economic; $1.3 billion was military and there was a $60 million “enterprise fund” approved by Congress. [/quote]Related News: Egypt Still Optimistic On Tourism Figures Despite Ongoing Violence
Related News: Has Egypt’s Middle Class Gained From The Revolution?
Related Story: Egyptians Will Not Settle For An Incomplete Revolution: Mohamed El-Erian
