UAE allocates $3bn aid package for Egypt



An aid package of US$3 billion (Dh11bn) has been allocated for Egypt after a directive by Sheikh Khalifa bin Zayed, President of the UAE.

The announcement of the aid came during a meeting in Abu Dhabi today between Sheikh Mansour bin Zayed, Deputy Prime Minister of the UAE and Minister of Presidential Affairs,  and the Egyptian Prime Minister, Dr Essam Sharaf.

A US$1.5bn fund, the Khalifa bin Zayed Fund for Small and Medium-Sized Enterprises, will be established in Egypt with the objective of providing business and job opportunities to a broad range of Egyptian youth.

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Sheikh Khalifa also directed the allocation of $750 million as a grant to develop housing and infrastructure projects for the schemes to be created under the fund.

Another $750m will be set aside as concessionary loans for different projects in Egypt.

Sheikh Mansour said that Sheikh Khalifa's directives emanated from the deep-rooted fraternal ties between the UAE and Egypt.

Dr Sharaf expressed the appreciation of Egypt and its people to Sheikh Khalifa's initiative which "embodies the historic stands of the leadership and people of the UAE, who spare no effort in supporting their brothers all the time."

The meeting was attended by Mohammed bin Dhaen Al Hameli, the Energy Minister, Ahmed Juma Al Zaabi, the Deputy Minister of Presidential Affairs, Mohammed bin Nakhira Al Dhaheri, the UAE ambassador to Egypt and Tamir Mansour, the Egyptian ambassador to the UAE.

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Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

UAE tour of the Netherlands

UAE squad: Rohan Mustafa (captain), Shaiman Anwar, Ghulam Shabber, Mohammed Qasim, Rameez Shahzad, Mohammed Usman, Adnan Mufti, Chirag Suri, Ahmed Raza, Imran Haider, Mohammed Naveed, Amjad Javed, Zahoor Khan, Qadeer Ahmed

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1. Marcel Kittel (Germany / Quick-Step) 63

2. Arnaud Demare (France / FDJ) 38

3. Andre Greipel (Germany / Lotto) 25

4. Sonny Colbrelli (Italy / Bahrain) 24

5. Mark Cavendish (Britain / Dimension Data) 22

6. Taylor Phinney (U.S. / Cannondale) 21

7. Geraint Thomas (Britain / Team Sky) 20

8. Thomas Boudat (France / Direct Energie) 20

9. Stefan Kueng (Switzerland / BMC Racing) 17

10. Michael Matthews (Australia / Sunweb) 17

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Catchweight 82kg
Piotr Kuberski (POL) v Ahmed Saeb (IRQ)

Women’s bantamweight
Cornelia Holm (SWE) v Corinne Laframboise (CAN)

Welterweight
Omar Hussein (JOR) v Vitalii Stoian (UKR)

Welterweight
Josh Togo (LEB) v Ali Dyusenov (UZB)

Flyweight
Isaac Pimentel (BRA) v Delfin Nawen (PHI)

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Roman Wehbe (LEB) v Maciej Sosnowski (POL)

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England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')

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Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.