UAE extends $3 billion aid package to crisis-hit Egypt

UAE stands by Egypt in ‘crucial phase’

ABU DHABI – 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, Sheikh Khalifa bin Zayed Al Nahyan, Vice President and Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum and 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 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 Mazrouei.
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.”
"The United Arab Emirates stands by Egypt and its people in this crucial phase. It has confidence in the choices made by its people, as well as this people's ability to overcome the current challenges," Sheikh Hazza said, according to WAM.
"The security and stability of Egypt are the foundation for Arab security," he said.
''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.
Egypt's army last week forced Morsi out of office following days of deadly protests against his one-year rule. The UAE was swift in hailing the ouster of Morsi.
"Egypt's great army once more proves that it is Egypt's protector ... that will ensure it remains a country of institutions and law that protects all components of the brotherly Egyptian people," Foreign Minister Sheikh Abdullah bin Zayed al-Nahayan said in statement following Morsi's ouster.