UAE To Give $3.9 Billion to Egypt’s Military-Installed Govt [Photo]
The United Arab Emirates agreed Saturday to give Egypt’s military-installed government another $3.9 billion in aid after transferring $1 billion in July. The UAE and other Persian Gulf monarchies were staunch supporters of the July 3 overthrow of Egypt’s first Islamist president, Mohamed Morsi, and now vow to help the military backed interim government address the economic devastation brought upon by the last two years of political turmoil. $1 billion of the new funds will be allotted to Egypt’s fuel needs with the rest going to generalized programs aimed to improve the living conditions of Egypt’s citizens. The country’s economy has been one of perpetual unrest since the overthrow of longtime ruler Hosni Mubarak in February 2011, adding to the nation’s intense political strife.
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