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Egypt Central Bank Says $3 Billion in UAE Aid Has Arrived

Egypt's central bank said it received $3 billion in aid from the United Arab Emirates on Thursday, part of $12 billion that Gulf Arab states pledged after the military ousted Islamist President Mohamed Morsi early this month.

Central bank governor Hisham Ramez said in a text message to Reuters that the aid had arrived.

The UAE said last week that it would provide Egypt with $1 billion as a grant and a $2 billion loan in the form of an interest-free central bank deposit. Saudi Arabia pledged $5 billion and Kuwait, $4 billion.