UAE to provide Egypt central bank with 6-year, $1 bln deposit

 23 Aug 2016 - 0:00

UAE to provide Egypt central bank with 6-year, $1 bln deposit
 

CAIRO: The United Arab Emirates has agreed to provide Egypt's central bank with a $1 billion deposit for a duration of six years, the United Arab Emirates' official state news agency WAM said on Monday.

Egypt this month signed a preliminary deal for a $12 billion IMF lending programme contingent upon the government securing $5-6 billion in bilateral financing for the first year.

Reuters