The Wall Street Journal Gulf States Pledge Aid to Egypt, U.S. Balks Saudi Arabia, Kuwait and the United Arab Emirates pledged $12 billion to help stabilize Egypt's economy, in the latest moves by these Persian Gulf states to rally behind Cairo's general-turned-president, Abdel Fattah Al Sisi. But the Obama administration didn't provide any new economic or military assistance to Egypt at an international conference on the Red Sea, highlighting the continued concern in Washington about the pace of political reform in the country. Read more: http://www.wsj.com/articles/gulf-states-pledge-additional-12-billion-in-aid-to-egypt-1426262660 Reuters Kerry pledges support for Egypt economic reforms, urges investment U.S. Secretary of State John Kerry on Friday urged businesses to invest in Egypt and praised President Abdel Fattah el-Sisi's government for reforms to restore investor confidence and boost the economy. Addressing an investment conference in the Red Sea resort of Sharm El-Sheikh, Kerry said the United States would support Egypt's economic progress "in any way we can" to ensure lasting growth and to attract needed investment. He cautioned, however, that greater prosperity should be shared among all Egyptians and not just a few. Read more: http://www.reuters.com/article/2015/03/13/us-egypt-economy-investment-usa-idUSKBN0M90IG20150313 Emirates 24/7 UAE pledges Dh14.7 billion to Egypt: Mohammed 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. Read more: http://www.emirates247.com/news/government/uae-pledges-dh14-7-billion-to-egypt-mohammed-2015-03-14-1.584091
