Arabic Press Release

English Press Releases

October 29, 2006

Cairo, Egypt— Ambassador Randall L. Tobias, Director of U.S. Foreign Assistance and Administrator of the U.S. Agency for International Development (USAID) will be in Cairo from October 28-30, 2006 as part of a regional tour.

While in Egypt, Ambassador Tobias will meet with Minister of International Cooperation Fayza Aboul Naga to discuss the past 30 successful years of USAID-Egyptian partnership and future cooperation in the area of economic and social development. Ambassador Tobias will also visit several beneficiaries of the USAID-funded Microfinance Project in Egypt’s famous bazaar, the Khan El Khalili. Ambassador Tobias’ meetings with these small borrowers demonstrates the U.S. Government’s commitment to helping Egypt expand its small and micro-enterprise (SME) sector, which directly increases employment and earnings among low-income groups. Since 1990, The U.S. Government has been the largest financier of microfinance initiatives in Egypt, extending over 2.1 million micro credit loans valued at LE 5.1 billion (U.S. $900 million).

Ambassador Tobias is the U.S. Government’s first Director of United States Foreign Assistance, responsible for all U.S. foreign assistance programs. Prior to his appointment as Director of U.S. Foreign Assistance, Ambassador Tobias served as the first United States Global AIDS Coordinator. He formerly worked as Chairman and CEO of AT&T Communications and AT&T International and as Chairman, President and CEO of Eli Lilly and Company.

For information about USAID please visit http://egypt.usaid.gov