Melbourne, March 07: Australia is poised to boost aid to Egypt after the democratic uprising that forced President Hosni Mubarak from power.
Following Foreign Minister Kevin Rudd’s recent visit to Cairo, Prime Minister Julia Gillard is expected to discuss the issue with US President Barack Obama at the White House on Monday morning (Washington time).
Mr Rudd has warned the fragile peace in Egypt could end unless international action is taken to stabilise the country.
He says there are risks for Australia if Egypt’s democratic revolution goes wrong – including terrorism, regional instability and higher oil prices.
The 2010 federal budget set aside almost $350 million in aid for Africa over four years.
But it is understood this is set to be boosted at the conclusion of negotiations with Egyptian authorities and United Nations members.
A senior government source said the package would comprise “serious money”, and could focus on food, security, direct assistance, help to run elections and co-operative programs with the UN.
The aim of the package will be to ensure a smooth transition to democracy and underpin the Egyptian economy.
Australia exported $411 million in wheat, coal and other goods to Egypt in the past financial year, and Australian businesses have around $230 million in investments in the African nation.
——–Agencies