Report: UAE offers $3 bln aid to Egypt

The United Arab Emirates (UAE) on Monday offered an aid package worth $3 billion to Egypt, the state news agency WAM said.

The agency said that UAE President Sheikh Khalifa bin Zayed al-Nahayan ordered the setting up of a $1.5 billion fund to support small and medium projects in Egypt. He also ordered the allocation of $750 million for infrastructure and housing projects for youths and $750 million in loans for various projects. (Reuters)