Tuesday, July 09, 2013

Rulers of Saudi Arabia and UAE throw their support behind the new regime in Egypt

By Fahd Makhtul

The rulers of Saudi Arabia and United Arab Emirates have taken the lead to shore up the new regime in Egypt. The two countries together are to provide nearly $8 billion in the form of goods, grants, and loans. 

King Abdullah of Saudi Arabia ordered an aid package totaling nearly $5 billion in the form of oil and gas supply, cash, and loans. 

Early yesterday, and Egyptian source confirmed that UAE had agreed to provide about $3 billion in aid to Egypt.

The financial and economic support from these two countries is another step to further isolate Qatar, the main backer of the Muslim Brotherhood's outgoing government. The new Emir of Qatar had already recognized the new regime in Egypt as well, but Egyptians are angry with Qatar. Aljazeera correspondent was thrown out of a new conference last week. Aljazeera has been seen as a tool of influence used by the Qatari rulers and many people in Egypt and other Arab countries have turned against Aljazeera and the rulers of Qatar accusing the satellite channel of bias and accusing Emir Hamad of interfering in other countries national affairs.

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