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.”


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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