His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has announced at the ‘Egypt Economic Development Conference' that the UAE would commit Dh14.7 billion in two phases, of which Dh7.35 billion will be deposited to the Central Bank of Egypt, while Dh7.35 billion will be allocated for different development projects there.
Sheikh Mohammed noted that the UAE had pledged over Dh51 billion for development in Egypt over the last two years in the areas of education, training, housing, transport, food security and energy.
He added that the funds were allocated on basis of transparency and unique cooperation.
The UAE President extended the regards of UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan to the leadership and people of Egypt.
"We are always proud of our relations with Egypt and the people of Egypt.
“History teaches us that when Egypt is strong it breathes life into the nation and renews its renaissance.
“Egypt is the heart of Arabism and peace, and with it history will be made," he said, adding that, "We are investing in the stability of Egypt and the region."
Sheikh Mohammed recalled that the late Saudi King Abdullah bin Abdulaziz Al Saud was the first leader to propose the conference to back Egypt's economy.
He added that the UAE is proud of its relations with Egypt, which were established by the late Sheikh Zayed bin Sultan Al Nahyan, noting that the success of Egypt in its development process will contribute to strengthening of the stability in the region, consolidate the values of moderation and confirm "our region is capable of finding innovative and successful solutions to address various challenges to build the future of Egypt."
Mohammed holds talks with Sisi
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai held today with President Abdel Fattah El Sisi of Egypt regarding bilateral ties between the two fraternal countries, as well as reviewing the agenda of the Egypt Economic Development Conference.
President El Sisi lauded the positions taken by the UAE, under the wise leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, and its political and economic support to Egypt.
Sheikh Mohammed reiterated the UAE leadership, government and people's stand towards Egypt as it seeks to develop its economy and to provide prosperity to the brotherly people of Egypt.
Also in attendance were members of the delegation accompanying Sheikh Mohammed, as well as Egyptian Prime Minister Ibrahim Mahlab and Foreign Minister Samih Shukri.