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UAE boosts Egyptian aid to $4.9 billion

UAE signs $1.9 billion in new loans to Egypt

AP, Saturday 26 Oct 2013
Beblawi in UAE
Egyptian prime minister Hazem El-Beblawi (L) and UAE minister of state for foreign affairs Mohamed Anwar Qarqash (Photo: Al-Ahram Arabic news website)
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Views: 1566

The United Arab Emirates says it has boosted its aid pledges to Egypt's government, now making it a total of $4.9 billion.

The deal signed Saturday for $1.9 billion in new loans, fuel supplies and other assistance comes during a visit by Egyptian interim Prime Minister Hazem El-Beblawi.

In July, the UAE promised $3 billion in aid as part of the overall $12 billion aid package from Gulf states following the ouster of the Muslim Brotherhood-led government of President Mohammed Morsi.

The official UAE news agency WAM says the new pact provides a framework for the aid and could open the door for more assistance.

The UAE has waged its own crackdown against suspected backers of the Muslim Brotherhood.

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