Since early 2012, international financial institutions have been negotiating loans for what they say will help rebuild Egypt’s ailing economy. The European Bank for Reconstruction and Development, [also called the EBRD], is awaiting approval from its shareholders to provide $1.5bn in annual loans to Egypt. This will be the first time since its establishment that the EBRD has lent to the Middle East. On February 2012, the EBRD published its technical assessment of the country, recommending the continuation of more than 20 years of privatization policies.
Egypt has received more in US aid more than any other country except Israel in the past 35 years. (Total of $28 billion.) Most, of course, has been military "aid" tied to business with the US military-industrial complex. But, there has also been substantial non-military aid, but clearly this has ended up benefiting the Egyptian oligarchy to insure their support of privatization policies, which, in turn, has resulted in the concentration of wealth and power.
The Egyptian uprising last year succeeded in removing Mubarak, but it is clear that the problem was not Mubarak. It was and remains the close ties of a concentrated wealthy Egyptian elite with US imperial interests. It appears that many Egyptians are connecting the dots.
