UAE’s $3 Bln Aid For Egypt “Will Take Time” – UAE Finmin

The $3 billion in aid that the United Arab Emirates pledged for Egypt in 2011 will “take time” to be transferred, the UAE Finance Minister and Dubai Deputy Ruler said on Friday.

“We are going in the right way but it will take time. I cannot tell you exactly when but they (the funds) are on the way,” Sheikh Hamdan bin Rashid al-Maktoum told Reuters.

An Egyptian source familiar with the matter told Reuters in February that the money had not been transferred mainly due to the political instability in post-revolution Egypt.

Reuters