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Egypt sees billions in aid from Saudi, UAE soon - ASHARQ AL-AWSAT English Archive
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ABU DHABI,(Reuters) – Egypt expects to reach a loan agreement with Saudi Arabia and the United Arab Emirates worth several billions of dollars each soon, while another $500 million should come from the Arab Monetary Fund, the country’s finance minister said on Wednesday.

“There are talks about a package coming from Arab countries, from Saudi Arabia, from the Emirates. We are under discussion, but both of them have presented proposals of a couple of billion dollars each,” Egyptian Finance Minister Hazem el-Beblawi told Reuters on the sidelines of a meeting of Arab finance ministers in the UAE capital.

Asked when he expected a deal to be reached, he said: “Before the end of the year. It should be quite soon.”

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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