President Barack Obama on Monday told Egyptian President Abdel Fattah al-Sisi that he would lift a hold on US military aid to Cairo, but also said the United States would stop allowing Egypt to buy equipment on credit starting in fiscal year 2018.
Obama has been reviewing military aid to Egypt since 2013 when the Egyptian army ousted former president Mohamed Mursi. The decision will allow for the delivery of 12 F-16 aircraft, 20 Harpoon missiles, and up to 125 M1A1 Abrams tank kits that had been frozen, the White House said.
Obama said he would continue to ask the US Congress for $1.3 billion in military aid for Egypt per year, but has decided to "modernize" the aid by discontinuing the use of cash flow financing for military equipment starting in fiscal 2018, the White House said.
"In this way, we will ensure that US funding is being used to promote shared objectives in the region, including a secure and stable Egypt and the defeat of terrorist organizations," said Bernadette Meehan, spokeswoman for the White House National Security Council, in a statement.
Egyptian Ship Arrested At Paradip Port In Odisha For Outstanding Debt White House Slams Violence Against West Bank Palestinian Settlers By Israel Virtual Autopsy Shows 'Screaming Woman' Mummy Endured Agonising Death Video: Woman Tries To Jump Off Mumbai's Atal Setu, Saved By Driver, Cops Parents Gave Names Of Interns, Doctors To CBI In Kolkata Horror: Sources Private Jets, Luxury Cars: Lavish Life Of "Ketamine Queen" Jasveen Sangha Bill Gates Calls India A "Global Leader In Breakthrough Innovations" Can Siddaramaiah Government Survive MUDA Scam Allegations? Life On Earth Originates From One Ancestor, Older Than Previously Believed Track Latest News Live on NDTV.com and get news updates from India and around the world.