US holds out possibility of restoring aid to Egypt

US holds out possibility of restoring aid to Egypt

WASHINGTON (AP) - While dissatisfied with Egypt’s progress toward reinstating a democratic government, the U.S. is holding out the possibility of restoring hundreds of millions of dollars in aid if its Mideast ally moves toward free and fair elections. At stake: a sizable portion of the $1.5 billion the U.S. provides Egypt each year. Much of the aid is in military equipment, and at least a quarter-billion in cash assistance to the Egyptian government and $300 million in a loan guarantee are also now in limbo.