SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 27 Sep, 2014  

Egypt.9.Thmb.jpg UAE, Saudi Arabia offer $8bn aid to Egypt

   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 10 Jul, 2013

Saudi Arabia and the United Arab Emirates have pledged a total of $8bn to Egypt to help prop up its ailing economy.

The announcement for the grant and loan was made Tuesday when Egypt's interim president Adli Mansour met Sheikh Hazza bin Zayed Al Nahyan, UAE's national security advisor.

United Arab Emirates (UAE) has offered $1 billion grant and $ 2 billion no-interest loan to Egypt. Saudi Arabia has promised to send $5bn central bank deposits and oil products.

The move is seen as the shake-up in regional political power after last week’s military coup in Cairo. The funds would help prop up Egypt's ailing economy.

The promise of aid came as the interim authorities in Cairo sought to project a return to stability with the appointment of a prime minister Hazem al-Biblawi.

Egypt also issued a fast track plan that would return Egypt to civilian rule within months.

Print the Page Add to Favorite
Share this on :

Please comment on this story:
Subject :
(Maximum 1500 characters)  Characters left 1500
Your name:

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
COVID-19 has directly affected your business
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter