Abu Dhabi's $10 billion financial aid to fellow United Arab Emirates member Dubai to meet debt obligations was in the form of bonds, the UAE foreign minister said in remarks to the Jordanian state news agency.
BONDS
"The aid did not come late and was in the form of bonds," Sheikh Abdullah bin Zayed al-Nahayan told the agency, Petra, on the sidelines of a Gulf Arab summit in Kuwait on Tuesday. "They are debt instruments that would be paid back and carry interest just like loans."
Sheikh Abdullah expressed "optimism about the capability of Dubai to reach satisfactory solutions with its creditors -- international banks", Petra said.
"Those who question the solidarity of the seven (UAE) emirates do not know the truth of the federation," he said.END
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