Egypt receives $4.9 billion from UAE for Energy and development Projects

“The visit by an Egyptian delegation headed by Prime Minister Hazem Al-Beblawi to the United Arab Emirates (UAE) last week concluded with the signing of a new aid agreement with Egypt of $4.9 billion.
The aid package aims to support Egypt’s development and includes a $1 billion grant and further loans to help provide Egypt with its petroleum requirements. Both parts of the package have already been received by Egypt…

More than $1 billion of the sum will be directed to supplying Egypt with fuel, while the rest will fund development projects including the construction of 15 wheat silos with a capacity to store 15,000 metric tonnes of wheat and 79 healthcare centres.”

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About angelajoya

Assistant Professor, Middle East Political Economy, at the University of Oregon. Currently writing on the Egyptian revolution and the Syrian crisis.
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