Egypt seeks more financial assistance from Arabian Gulf allies | The National:
"Egypt is in talks about further financial assistance from the GCC after receiving US$7 billion in funds from the UAE, Kuwait and Saudi Arabia, the country’s central bank governor said yesterday.
The UAE had deposited $2bn with Egypt’s central bank and provided a further $1bn loan to the country, said Hisham Ramez. A further $4bn had arrived from Saudi Arabia and Kuwait, $2bn from each donor, he said on the sidelines of a gathering of Arab central bank governors in Abu Dhabi yesterday.
Asked if Egypt was seeking further funds, he said: “There are talks with the countries that are supporting us.”
Mr Ramez’s comments follow Egypt returning $2bn that Qatar had deposited with the central bank after talks soured about converting the funds into three-year bonds."
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