00:00Egypt and the United States signed a framework agreement on Wednesday aimed at advancing mutual prosperity.
00:09The deal brings American institutional and technological innovation to boost Egypt's energy and infrastructure systems.
00:18Its focus is an sustainable economic growth.
00:23The total amount of the U.S. contribution under the agreement amounts to up to 625 million U.S. dollars
00:31over a period of five years.
00:38It's an important agreement.
00:40It's the first of what we hope will be mini-annual agreements and that commits the U.S. government to,
00:48in this agreement,
00:49to pay $125 million in grants to expand opportunities here in various sectors in Egypt.
00:58We hope, through this agreement, to expand modernization here, particularly in the high-tech sectors,
01:04and also to find new opportunities for private sector U.S. investment in Egypt.
01:09The new deal matches previous U.S. economic assistance delivered through U.S. AID projects.
01:16Egypt also receives military aid.
