UAE offers a grant of $ 1 billion and $ 2 billion no-interest loan to Egypt

WAM CAIRO, July 9th, 2013 (WAM) — The UAE has offered a grant of US$ 1 billion and a further US$ 2 billion no-interest loan to Egypt in the form of a no-interest deposit with the Central Bank of Egypt.

The UAE announcement of the grant and loan was made when Egypt’s interim president, Adly Mansour, received today H.H. Sheikh Hazza bin Zayed Al Nahyan, UAE National Security Advisor, at Etihadiya Palace.

Sheikh Hazza conveyed the congratulations of UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan, Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Egyptian interim president on assuming his post during the transition period. The UAE leaders wished him success in his mission and more progress and prosperity for the Egyptian people in order to pursue its drive towards development, progress and prosperity, enabling the country to play its civilised leading role in Arab and international arenas.

Sheikh Hazza was accompanied during the visit by a high-level ministerial delegation comprising H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, Sheikha Lubna bint Khalid Al Qasimi, Minister of Development and International Co-operation, Obeid Humaid Al Tayer, Minister of State for Financial Affairs, and the Minister of Energy, Suhail Al Mazrouie.

In a statement, Sheikh Hazza affirmed that the ties between the leadership and people of the UAE with Egypt are brotherly, historic, solid and charatcterised with affection and cooperation.

These ties, he said, were forging ahead confidently to realise the aspirations of the two brotherly people through strong partnerships in all domains.

He added that the UAE stands beside Egypt and its people at this critical juncture of its history and is confident of the choices the Egyptian people will make towards the future, and its ability to ride over the current challenges for the sake of preserving the interest, stability and security of Egypt.

In this context, he emphasised that Egypt’s security and stability are the bedrock of Arab security.

”The UAE, based on the prudent policy laid down by the late founding father, Sheikh Zayed bin Sultahn Al Nahyan, for supporting the Egyptian people at critical historic moments, has contributed to building distinguished ties with the leadership and people of Egypt. These bonds flourish under the leadership and guidance of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and the UAE continues to support Egyptians in charting a bright future for progress and prosperity,” Sheikh Hazza added.

”The UAE expresses its confidence in the ability of the Egyptian people to overcome this historic stage in its progress with wisdom and capability in order to preserve state institutions and address challenges so as to achieve a comprehensive development that reflects Egypt’s history and great civilisation.

Sheikh Hazza wished Egypt all progress and welfare and more enduring security and stability for its great people, and prayed to Allah to spare Egypt and its people from any harm and achieve its people’s aspirations for a prosperous and safe life.

For his part, the Egyptian interim president asked Sheikh Hazza to convey his regards to the UAE leaders, lauding the UAE’s firm stance towards Egypt and its support for the choices of its people, which signifies the deep brotherly ties.

WAM/TF/CM

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