GCC promises billions for Egypt

Egypt’s staunch Gulf backers, Saudi Arabia, the UAE and Kuwait, each pledged a further $4bn for Cairo at a major donor conference in Sharm El-Sheikh on 13-15 March. Oman said it would give $500m. Representatives from 112 countries attended the Egypt Economic Development Conference; among those present from outside the region were US secretary of state John Kerry, ministers from France, Russia, Britain, China and Singapore, the prime ministers of Italy and Ethiopia and the presidents of Mali, Somalia, Tanzania, Cyprus and Sudan. More than 700 companies also took part.