Egypt Economic Development Conference held
(Sharm el Sheikh) – Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum has announced at the “Egypt Economic Development Conference’ that the UAE would commit AED14.7 billion in two phases, of which AED7.35 billion will be deposited to the Central Bank of Egypt, while AED7.35 will be allocated for different development projects there.
Sheikh Mohammed noted that the UAE had pledged over AED51 billion for development in Egypt over the last two years in the areas of education, training, housing, transport, food security and energy. He added that the funds were allocated on basis of transparency and unique cooperation between the two countries.
The UAE President extended the regards of UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan to the leadership and people of Egypt.