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
Gulf countries have supported Egypt with nearly $92 billion since the revolution that overthrew the regime of President Hosni Mubarak in 2011.
Sources in the Central Bank of Egypt told the New Khaleej news site that the Gulf countries’ support for Egypt included aid, grants, loans and deposits in the Central Bank on which interest is payable.
Egypt has also received oil and in-kind assistance, especially during the first two years following the military coup of 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.

Gulf countries supported Egypt with $92bn since 2011

Gulf countries have supported Egypt with nearly $92 billion since the revolution that overthrew the regime of President Hosni Mubarak in 2011. Sources in the Central Bank of Egypt told...

www.middleeastmonitor.com

 

[FOOLS_NIGHTMARE]

Egypt is a classic example of a disaster State, where the elites(mostly generals) loot the nation and the commoners still live in abject poverty. Witnessed this sin personally this year.

 

[Cliftonite]

Egypt is simply unsustainable. 100 million people with only the Nile banks. Rest of the country is uninhabitable like Mars

 

[dani191]

that how egypt buy all the weapons

 

[Trango Towers]

Egypt is simply unsustainable. 100 million people with only the Nile banks. Rest of the country is uninhabitable like Mars

If they were given 92 billion...then technically every Egyptian should have been given a million and still there would have been money left over. Sad

 

[dani191]

If they were given 92 billion...then technically every Egyptian should have been given a million and still there would have been money left over. Sad

they buy weapons with this

 

[Tom_Cruise]

that how egypt buy all the weapons

Getting worried?

 

[dani191]

Getting worried?

no

 

[Tom_Cruise]

no

Good, you shouldn't be.

 

[PakFactor]

When all you have is pyramids to rely on for income it can only take you so far. It’s fall will come soon.

 

[Microsoft]

Getting worried?

Why would @dani191 be worried when he has someone bigger than all Gulfies bankrolling him?

 

[Tom_Cruise]

Why would @dani191 be worried when he has someone bigger than all Gulfies bankrolling him?

Indeed.

Those weapons won't be used against Israel anyway.

 

[That Guy]

If they were given 92 billion...then technically every Egyptian should have been given a million and still there would have been money left over. Sad

I know your joking, but incase people don't get it, this math is WAAAY off.

 

[ARCH٤R]

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
Gulf countries have supported Egypt with nearly $92 billion since the revolution that overthrew the regime of President Hosni Mubarak in 2011.
Sources in the Central Bank of Egypt told the New Khaleej news site that the Gulf countries’ support for Egypt included aid, grants, loans and deposits in the Central Bank on which interest is payable.
Egypt has also received oil and in-kind assistance, especially during the first two years following the military coup of 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.

Gulf countries supported Egypt with $92bn since 2011

Gulf countries have supported Egypt with nearly $92 billion since the revolution that overthrew the regime of President Hosni Mubarak in 2011. Sources in the Central Bank of Egypt told...

www.middleeastmonitor.com

That is correct, 50% of Egypt’s development plan is funded by these states and IMF though loans. Egypt should not falter in terms of economic growth to repay all that, 60 billion dollars to increase each at minimum from now on.

 

[Cliftonite]

That is correct, 50% of Egypt’s development plan is funded by these states and IMF though loans. Egypt should not falter in terms of economic growth to repay all that, 60 billion dollars to increase each at minimum from now on.

Egypt needs to control its population ASAP!!!

Otherwise you'll have a civil war over water.