Arab Nations Pledge $12 Billion to Egypt as U.S. "Reviews" Aid

U.S. aid to Egypt was formally put under review Thursday in the wake of last week's military-backed power shift as Arab nations rushed to pledge $12 billion to the country's new government.

"Given the events of last week, the president has directed relevant departments and agencies to review our assistance to the government of Egypt," the Pentagon said in a statement.

It marks a policy shift by the Obama administration, which said on Monday that suspending the annual $1.5 billion support to Cairo "would not be in the best interests" of the U.S.

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