United States Secretary of State John Kerry said on Saturday he expects a decision to be issued "soon" regarding the resumption of his government's halted aid to Egypt.
Speaking on the sidelines of Egypt's Economic Development Conference in the resort city of Sharm el-Sheikh, Kerry said the conference is a "very strong step" based on contributions from the private sector.
If Egypt does not immediately direct the private sector's investment toward supporting the economy, it will go back to depending on "exceptional aid", Kerry told a press conference.
The U.S. announced temporarily halting part of its 1.3 billion-dollar military aid to Egypt in October 2013 pending "credible progress toward an inclusive, democratically elected civilian government through free and fair elections."
Kerry said on Saturday that the U.S. is the second largest foreign direct investor in Egypt, with investments worth $2.2 billion.
