SME Times is powered by   
Search News
Just in:   • Coal production from India's commercial mines jumps 16.4 pc in April-June quarter  • India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri  • India's industrial production registers 1.2 per cent growth in May  • Govt committed to building safe and smart energy future: Minister  • Sanchez defends Spain's defence budget in response to Trump's threats 
Last updated: 27 Sep, 2014  

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

UAE.9.jpg
   Top Stories
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
» QCOs benefit MSMEs by enhancing product quality, consumer satisfaction: Piyush Goyal
» Stock market opens higher as Trump indicates ‘great’ trade deal with India
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 :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter