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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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
Points to remember
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The years Ramadan fell in May
BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
The specs: 2018 Ducati SuperSport S
Price, base / as tested: Dh74,900 / Dh85,900
Engine: 937cc
Transmission: Six-speed gearbox
Power: 110hp @ 9,000rpm
Torque: 93Nm @ 6,500rpm
Fuel economy, combined: 5.9L / 100km
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Friday's schedule at the Etihad Airways Abu Dhabi Grand Prix
GP3 qualifying, 10:15am
Formula 2, practice 11:30am
Formula 1, first practice, 1pm
GP3 qualifying session, 3.10pm
Formula 1 second practice, 5pm
Formula 2 qualifying, 7pm
The Limehouse Golem
Director: Juan Carlos Medina
Cast: Olivia Cooke, Bill Nighy, Douglas Booth
Three stars
A cheaper choice
Vanuatu: $130,000
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Zombieland: Double Tap
Director: Ruben Fleischer
Stars: Woody Harrelson, Jesse Eisenberg, Emma Stone
Four out of five stars
The specs
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Power: 640hp at 8,000rpm
Torque: 565Nm at 6,500rpm
Transmission: 7-speed dual-clutch auto
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On sale: Q3 or Q4 2022
Biography
Favourite Meal: Chicken Caesar salad
Hobbies: Travelling, going to the gym
Inspiration: Father, who was a captain in the UAE army
Favourite read: Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter
Favourite film: The Founder, about the establishment of McDonald's
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