Gulf countries supported Egypt with $92bn since 2011

[dani191]

Gulf countries supported Egypt with $92bn since 2011

March 19, 2019 at 11:32 am | Published in: Africa, Egypt, Kuwait, Middle East, News, Qatar, Saudi Arabia, UAE

Central Bank of Egypt [File photo]

March 19, 2019 at 11:32 am
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3 July 2013.

The top Gulf donors were Saudi Arabia and the United Arab Emirates, followed by Kuwait, Oman, Bahrain, and Qatar.

Saudi Arabia gave Egypt five deposits worth $8 billion while Saudi Aramco supplies Cairo with 700,000 tonnes of petroleum products each month through a Saudi loan of $23.5 billion for five years.

READ: UAE eases Qatar shipping ban amid Gulf blockade

During the rule of coup leader President Abdel Fattah Al-Sisi, Egypt has received deposits from the UAE worth $6 billion, due to be repaid in installments until the end of 2023. The UAE has also supported the Egyptian economy with an $8.6 billion loan to finance the purchase of petroleum products.

Meanwhile, Kuwait has deposited $4 billion into the Egyptian Central Bank to boost the country’s reserves.

Last year, the governor of the Central Bank of Egypt, Tariq Amer announced that Saudi Arabia, the UAE and Kuwait have agreed to postpone the repayment of deposits scheduled for the fiscal year 2018/ 2019.
https://www.middleeastmonitor.com/20190319-gulf-countries-supported-egypt-with-92bn-since-2011/

 

[bsruzm]

@Bismarck @Oublious

 

[Oublious]

@Bismarck @Oublious

I bet more then 50 billion is used for weapon shop....

 

[dani191]

I bet more then 50 billion is used for weapon shop....

now i under stand why egypt is one of the biggest importers of weapons and where she got the money

 

[Oublious]

now i under stand why egypt is one of the biggest importers of weapons and where she got the money

what was you thinking, they have used money earned from tourism?



Egypt should buy Gripen fighters and Chinese migs...

 

[Hakikat ve Hikmet]

Haram IN, Haram OUT...

The Egyptian thugs, who illegally capture the power, are only good at killing the Muslim leaders like El Banna, Syed Kutub, Morsi etc....

 

[DESERT FIGHTER]

You seem surprised?

 

[Total Destruction]

Yeah could be true.
But zionists are supported by U.S and Europe so why such a thread?

I hope next thing we could be is a nuclear military technology.

Yeah could be true.
But zionists are supported by U.S and Europe so why such a thread?

I hope next thing we could be is a nuclear military technology.

 

[Type59]

Seems like loans. Nothing wrong with that.

 

[Turan09]

Seems like loans. Nothing wrong with that.

If this money is all loans, dark times are in near for egyptian economy... They spent so much for weapons...

 

[cloud4000]

I bet more then 50 billion is used for weapon shop....

Why can't Pakistan get the same arrangement? The military is just as good, if not better.

 

[himate]

Haram IN, Haram OUT...

The Egyptian thugs, who illegally capture the power, are only good at killing the Muslim leaders like El Banna, Syed Kutub, Morsi etc....

An army that is well oiled to continue oppressing its own people are only but cowards in front of opposing nation with real nationalistic Armies

 

[FOOLS_NIGHTMARE]

An army that is well oiled to continue oppressing its own people are only but cowards in front of opposing nation with real nationalistic Armies

I visited Egypt after twenty five years early this year, i was immensely disappointed. The vast majority of the country has gone back to the STONE AGES. Where has all the money gone, the people are extremely poor,the infrastructure very dilapidated, every soul i met was a crook ,the society is degenerated and only a few ELITE are prospering.

 

[Stannis Baratheon]

Seems like loans. Nothing wrong with that.

It's actually soft power. In case Sisi loses power, the next government will be at an economic crisis to pay back such loans. They can use that instability caused by poor economy to overthrow regimes that aren't puppets.

 

[Bismarck]

Yeah could be true.
But zionists are supported by U.S and Europe so why such a thread?

I hope next thing we could be is a nuclear military technology.

Yeah could be true.
But zionists are supported by U.S and Europe so why such a thread?

I hope next thing we could be is a nuclear military technology.

We will protect Israel from Arabs, who wants to destroy Israel. It is in our interest to have puppet dictators like al Sisi and an uneducated and uncivilized society in Arab countries, but never allow them nuclear technology. You want to have, what we allow you to have.Best example is your ex democratic president Mursi, which not was in our and Israels interest.

Yes, I am a bit harsh and direct here, but bitter truth must be known and outspoken and stopp dreaming about nukes.

Why can't Pakistan get the same arrangement? The military is just as good, if not better.

Pakistan would not follow KSA/UAE order. Especially against Turkey.