US to give Egypt $150 million

The US will give Egypt $150 million to support the transition to a new regime and to help economic reconstruction, US Secretary of State Hillary Clinton said on Thursday, RIA Novosti reports.

A few days ago Egyptian President Hosni Mubarak announced his resignation. He handed over power to the Supreme Council of the armed forces. The resignation of Mubarak was preceded by the degradation of the economic and social situation and the collapse of the internal security of the country. Mubarak resigned after more than two weeks of mass protests and riots that killed at least 300 people.