3 Gulf nations pledge billions to Egypt at conference
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Egypt's Gulf Arab allies promised it $12 billion in new investment and aid on Friday, as President Abdel-Fattah el-Sissi opened an international conference to promote an ambitious recovery plan for his country's ailing economy.
Speaking to an assembly of businessmen, royals, heads of state and international officials, el-Sissi depicted Egypt as vital to regional stability and a bulwark against Islamic militancy, making his case that his country needed international backing to rebuild an economy devastated by four years of turmoil that followed the ouster in 2011 of longtime autocrat Hosni Mubarak.
