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Rick Watson, managing director of the ESF commented: "The challenge for the securitisation and structured products industry is that, unlike traditional corporate or governmental borrowers, almost all securitisation and structured products are issued through special purpose vehicles (SPVs). However, it also requires that not less than $135 million of the ESF funds should be for project assistance "of which not less than $50 million shall be made available for democracy, human rights and governance programs and not less than $50 million shall be used for education programs of which not less than $5 million for scholarships" to American higher education institutions in Egypt. This is the sixth year of a ten-year plan in which Israel's FMFP assistance is to increase by $60,000,000 annually to coincide with an annual decrease of $120,000,000 in ESF grant assistance towards achieving Israel's ten-year goal of receiving no ESF from the U. |
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