UAE to provide US$3.9 bil. to Egypt's interim regime
AFPDUBAI -- The United Arab Emirates agreed Saturday to give Egypt's military-installed government another US$3.9 billion in aid after transferring US$1 billion in July, the official WAM news agency said.
October 28, 2013, 12:02 am TWN
The UAE and other Gulf monarchies were staunch supporters of the July 3 overthrow of Egypt's first Islamist president, Mohamed Morsi, and have vowed to help the interim government address the economic devastation wrought by two years of political turmoil.
The two countries signed the latest agreement during a visit by Egyptian prime minister Hazem Beblawi to the oil-rich Emirates, WAM reported.
It said US$1 billion of the new funds would go to support Egypt's fuel needs while the remainder would be “aimed at improving the living conditions, lives and human development of the Egyptian people through a number of projects.”