Official: Egypt Sees More Gulf Aid

Egypt expects to receive more aid from Gulf states, the central bank governor said on Wednesday, on top of the $12 billion they have pledged since the army deposed Islamist President Mohamed Morsi in July.

Asked whether he anticipated more Gulf aid, Central Bank (CBE) Governor Hisham Ramez said: “Yes we do … But I have no number in mind. Actually we’re not only counting on aid, we’re counting on investments to come in.” He was speaking on the sidelines of the Gulf-Egyptian Investment Forum held during December 4th and 5th in Cairo.

The Gulf aid has come from Kuwait, Saudi Arabia and the United Arab Emirates.