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UAE-Egyptian Committee discusses economic aid to Egypt

Cairo - The UAE- Egyptian Committee met in Cairo to iron out the pledge made by the UAE President to assist Egypt with Dhs11. 01 billion (US$3billion).

The move follows the directives by President His Highness Shaikh Khalifa bin Zayed Al Nahyan to bolster the brotherly and economic ties with Egypt.

The meeting was co-chaired on the UAE side by Saeed Al Muqbali, Undersecretary of the Ministry for Local Affairs at the Ministry of Presidential Affairs, while on the Egyptian side by Ambassador Murwan Badr, supervisor of office of the International Cooperation Minister. Also present were Mohammed bin Nakhaira, UAE Ambassador to Egypt and its representatives to Arab League and Egyptian Planning and International Cooperation Minister Faiza Abu Naja.

Al Muqbali conveyed the regards of Shaikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs to the Egyptian Prime Minister Essam Sharaf and the Egyptian government, wishing them success in planning programmes that ensure stability and prosperity for the Egyptian people.

He added that the meetings of the committee follows the directives by the UAE President to support the Egyptian economy to overcome current crisis, referring to the UAE initiative in this respect and the visit of the Egyptian PM to the UAE in July.

The UAE has also offered to set the Shaikh Khalifa Fund for Enterprise Development in Egypt at cost Dhs1.5 billion and allocation of Dhs750 million as easy loans for different projects in Egypt.