UAE delivers $3bn in aid to Egypt

Egypt received $3 billion in aid from the United Arab Emirates (UAE) on Thursday, part of $12 billion that Gulf Arab states promised after the military coup early this month. Egypt Central Bank Chairman Hisham Ramez said that the aid had arrived. The UAE said last week that it would provide Egypt with $1 billion as a grant and a $2 billion loan in the form of an interest-free central bank deposit. Saudi Arabia pledged $5 billion and Kuwait, $4 billion. The Saudi funds comprised a $2 billion central bank deposit, $2 billion in energy products, and $1 billion in cash.