Sunday, October 27, 2013

UAE says increasing aid to Egypt to total of $4.9 billion


ABU DHABI (Reuters) - The United Arab Emirates signed an aid agreement with Egypt on Saturday bringing its total support to the Egyptian economy since the ouster of President Mohamed Mursi up to $4.9 billion, the state news agency WAM said.


The aid package includes a $1 billion grant sent to Egypt in July and more than $1 billion to supply fuel, WAM said. The rest of the money will go to various development projects.


The agreement puts in a place a general framework for funds already granted and for future aid, WAM said.

Source: http://news.yahoo.com/uae-says-increasing-aid-egypt-total-4-9-080544387--finance.html
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