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United States to Give Egypt $40,000,000 in Economic Aid

The United States and Egypt have signed an agreement to give Egypt $40,000,000 in economic aid this year, it was announced in Cairo this week-end. This is the first time Egypt received direct economic aid. This is also the largest single economic grant yet made by the U.S. to an Arab League state.

(In a dispatch from Washington this week-end, the New York times reported that both Zionists in this country and Israel diplomats were “distressed by widespread reports that Israel’s attempts to frustrate deliveries of arms to the Arabs had been improperly intruded into the election campaign.” However, the dispatch added: “The point was made that the timing of these efforts on behalf of Israel was determined not by the election but by the British decision to leave the Suez Canal Zone and the American decision to arm the Arabs.”)