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UAE Will Extend Aid Of $3 Billion To Egypt
10/24/2011

The UAE's minister of state for financial affairs Obaid Humaid al-Tayer declared that his government plans to provide $3 billion in the form of financial aid to Egypt but was still reviewing the mechanism of extending it.

Saudi Arabia plans a package of aid to Egypt in the form of loans, grants and investments worth $3.9 billion.

Qatar granted Egypt $500 million in aid. Egypt is also considering asking for a $3 billion loan from the International Monetary Fund.

In a related news item, the Central Bank of Egypt announced that the budget deficit for this fiscal year has reached $22.3 billion.

Source: menafn.com , October 23, 2011; menafn.com , October 23, 2011

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