Last Update 10:45
Tuesday, 22 October 2019

UAE agrees to give Egypt $3 billion in loans and grants: source

Emirates and Saudi Arabia in talks to give Egypt loans and grants

Reuters, Tuesday 9 Jul 2013
Mohamed Morsi
A protester opposing Egyptian President Mohamed Morsi holds an anti-Morsi poster during a protest in front of the presidential palace in Cairo June 30, 2013. (Photo: Reuters)
Share/Bookmark
Views: 1823
Share/Bookmark
Views: 1823
The United Arab Emirates has agreed to grant Egypt $1 billion and lend it another $2 billion, an Egyptian source close to the talks said on Tuesday.
 
The source said the amount was expected to be part of a larger financial package from the UAE. The loan would be in the form of a deposit at Egypt's central bank, although the interest rate and maturity had yet to be finalized.
 
He also said that Saudi Arabia was expected to lend Egypt $2 billion, which he expected to be confirmed within two days.
 
 
Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.