UAE offers $1 billion deposit to Egypt for six years
This support comes within the framework of strategic co-operation and co-ordination between the two countries- WAM
The UAE has offered a financial deposit worth US$1 billion to the Arab Republic of Egypt at the Central Bank of Egypt for a period of 6 years, according to UAE state run news agency WAM.
The deal was signed by Mohammed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development (ADFD) and Tarek Amer, Governor of the Central Bank of Egypt.
This support comes within the framework of strategic co-operation and co-ordination between the two countries, and out of the UAE's unwavering stand in support of Egypt and its people to promote the development process, as well as the recognition of Egypt's central role in the region.
IMF, Egypt agree on $12 billion loan to fix ailing economyCairo hopes it can generate momentum that will boost growth and reassure potential investors Economy
Sisi warns tough measures to fix Egypt’s economy are loomingThe president expressed concern over public reception to the tough measures Business
World Bank set to provide Egypt with first $1 billion of $3 billion loanEgypt has been negotiating billions of dollars in aid from various lenders to help revive the economy Business
Egypt expects $1.5 bln in aid by year-end, eyeing IMFEgypt expects to receive $1.5 billion from the World Bank and AfDB to revive its economy with a potential IMF financing Economy