US promises $150 million for Egypt

United States has announced $150 million in aid to Egypt in support of its transition process towards democracy following the ouster of President Hosni Mubarak.

The Obama administration is also dispatching William Burns, the undersecretary of state for political affairs, and David Lipton, a senior White House adviser on international economics, to Egypt next week to talk with the interim military government on issues related to transition.

An announcement in this regard was made by Secretary of State Hillary Clinton after she briefed the US lawmakers in a classified setting on the current situation in Egypt after the fall of the Mubarak regime.

"It's very clear that there is a great deal of work ahead to ensure an orderly democratic transition. It's also clear that Egypt will be grappling with immediate and long-term economic challenges," Clinton told reporters.

The United States stands ready to provide assistance to Egypt to advance its efforts, she added. "I'm pleased to announce today that we will be reprogramming $150 million for Egypt to put ourselves in a position to support the transition there and assist with their economic recovery. These funds will give us flexibility to respond to Egyptian needs moving forward," she said.

"Under Secretary Burns and David Lipton, a senior White House advisor on international economics, will travel to Egypt next week to consult with Egyptian counterparts on how we can most effectively deploy our assistance in line with their priorities," Clinton said.

In her classified briefing with the Congressmen, Clinton said they also discussed the lessons learnt from  recent events in Egypt and Middle East.

"These events demonstrate why the United States must remain fully engaged around the world. In Egypt, Afghanistan, Iraq, Yemen, and so many places, the men and women of the State Department and USAID are working to advance our interests, our values, and most importantly, our national security," she said.

"This work is vital and it needs proper funding. I told our congressional colleagues that the Fiscal Year 2011 spending bill that is on the House floor right now would have serious negative consequences for America's national security. The 16 percent cut for State and USAID in that bill would, for example, force us to scale back dramatically on our missions in the frontline states of Iraq, Afghanistan, and Pakistan," she said.

"As the events of the past month have shown, protecting our country and advancing our interests takes constant and coordinated effort from across our government," Clinton said.