UAE agrees to give Egypt $3 billion in loans and grants
Posted: Tue Jul 09, 2013 2:40 pm
The United Arab Emirates has agreed to grant Egypt $1 billion and lend it another $2 billion, an Egyptian source close to the talks said on Tuesday.
The source said the amount was expected to be part of a larger financial package from the UAE. The loan would be in the form of a deposit at Egypt's central bank, although the interest rate and maturity had yet to be finalized.
He also said that Saudi Arabia was expected to lend Egypt $2 billion, which he expected to be confirmed within two days
Source: http://english.ahram.org.eg/News/76096.aspx
The source said the amount was expected to be part of a larger financial package from the UAE. The loan would be in the form of a deposit at Egypt's central bank, although the interest rate and maturity had yet to be finalized.
He also said that Saudi Arabia was expected to lend Egypt $2 billion, which he expected to be confirmed within two days
Source: http://english.ahram.org.eg/News/76096.aspx