Egypt signed an agreement for $4.9 billion with the United Arab Emirates on
Saturday in which it decided to support the country’s development with an
additional $3.9b. in aid after previously agreeing to around $1b. in
The signing of the agreement took place in the presence of General
Sheikh Mohamed bin Zayed al-Nahyan, the crown prince of Abu Dhabi and deputy
supreme commander of the UAE Armed Forces, and called for the construction of 25
wheat and grain silos, and other healthcare, housing, and development projects,
according to the Emirates News Agency.
Egyptian interim Prime Minister
Hazem el-Beblawi arrived in the UAE Friday for a three-day trip.
in a meeting with members of the Egyptian community in Abu Dhabi on Friday, said
that the UAE was providing vital support for Egypt after its
“The UAE has been extending support to Egypt in political,
economic and investment fronts. Moreover, the UAE diplomacy played a key role in
rallying support for the revolution among several countries and, needless to
say, its financial support has helped Egypt avert many crises,” he said,
according to the Dubai based Khaleej Times.
“I am very upbeat about the
future of Egypt, but that does not mean things will be easy. Egypt is now
like a recovering patient who needs to be attended to carefully,” said
The UAE, Saudi Arabia and Kuwait, which oppose the Muslim
Brotherhood and supported the military coup by the Egyptian army, have already
pledged $12b. in aid.