Britain announces $7.9 mln in economic aid to Egypt

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LONDON: The office of Britain’s deputy leader says he plans to announce a LE 5 million ($7.9 million) boost for the Egyptian economy during an upcoming visit to Cairo.

Nick Clegg’s office said the money would go the European Bank for Reconstruction and Development and would be used to help small and medium-sized businesses get loans.

Some LE 500,000 ($790,000) would be earmarked to help support "balanced election media coverage," female candidates and international observers.

Clegg was due to meet Egyptian Prime Minister Essam Sharaf and address activists in Cairo on Thursday.

In comments released to the media Wednesday, Clegg said Britain wants "a lifting of the harsh and outdated emergency law" in Egypt.


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