Tuesday, 12 July 2011

UAE officials to discuss $3 bln package in Egypt | Reuters

Officials from the United Arab Emirates will visit Cairo in July to discuss a $3 billion package of support for Egypt's economy that has been hit by political turmoil, the Egyptian finance minister said on Monday.

The UAE is the latest wealthy Gulf Arab state to offer Egypt financial help. Saudi Arabia and Qatar have both offered cash, including help to finance the budget after revenues were hit from the slowdown in business and as tourists fled.

"We had a $3 billion package from the Emirates last week. They are coming to discuss the details in the third week of this month," Finance Minister Samir Radwan told Reuters.


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