Egypt central bank says $3 bn in UAE aid has arrived

Reuters, Thursday 18 Jul 2013

ECB receives $1 billion grant and $2 billion interest-free loan deposit pledged last week by oil-rich Gulf nation

Central Bank of Egypt (Photo: Reuters)

Egypt's central bank said it received $3 billion in aid from the United Arab Emirates on Thursday, part of $12 billion that Gulf Arab states pledged after the military ousted Islamist President Mohamed Mursi early this month.

Central bank governor Hisham Ramez said in a text message to Reuters that the aid had arrived.

The UAE said last week that it would provide Egypt with $1 billion as a grant and a $2 billion loan in the form of an interest-free central bank deposit. Saudi Arabia pledged $5 billion and Kuwait, $4 billion.

Short link: