ABU DHABI // Egypt was the largest recipient of foreign aid in 2013, the Foreign Aid Report stated.
The UAE Government provided Egypt with Dh16.99 billion to assist with developmental projects and charitable assistance.
Fifty four developmental projects accounted for 99.9 per cent of the aid provided, with the top project being a loan of Dh7.43 billion aimed at supporting the foreign currency reserve and strengthening the financial and governmental system of Egypt.
The Central Bank of Egypt also received Dh3.67 billion as a grant, with the purpose of correcting the steady rise in the level of non-performing loans that lead the bank to enact reforms that reduced the number of licensed banks.
Egypt’s petroleum needs were also included in the financial assistance, with Dh3.52 billion to ensure that the nation is able to maintain its economy, industry, trade and transportation.
The second largest donor from the UAE, Abu Dhabi Fund for Development, provided Dh194 million to assist in three projects that provided support to the Al Azhar project, residential units of Manshiyat Nasser refurbishment project, and the Banha electrical power station.
The station is designed to reinforce the Egyptian economy by meeting increased demands of electricity in the Middle Delta region.
The remaining money was used in the assistance of 36 charity projects, which included construction of mosques and schools, the provision of care for orphans, as well as various Ramadan projects.
Infrastructure was another funded sector in Egypt, where the UAE provided housing projects aimed to address the issues faced by young people.
It also provided the chance for those unemployed to find employment opportunities.
The UAE also launched health and education projects by constructing 79 basic healthcare units focusing on family medicine, as well as establishing two vaccine production lines.
One hundred schools were built and equipped throughout the country, which provide general and vocational training to students.
Twenty-five wheat silos were also funded by the UAE, with a total capacity of 1.5 million tonnes, allowing Egypt to import and improving its feed security across the country.
aalkhoori@thenational.ae