ABU DHABI - The United Arab Emirates foresees greater stability in Egypt after former army chief Abdel Fattah al-Sisi won a presidential election last week and will continue to back it financially, the UAE foreign minister said on Saturday.
Since the army ousted Egypt's first freely elected president, the Islamist Mohamed Morsi amid mass protests against his rule last July, the UAE has become a major donor for Egypt, taking a hands-on approach in its support for Cairo.
The Gulf Arab countries were opposed to Morsi and his Muslim Brotherhood, which they regard as a security threat. In total Saudi Arabia, Kuwait, and the UAE have pledged over $12 billion in loans and donations since July. (Reuters)