According to WAM news agency, the agreement was reached on Saturday during a visit by Egyptian Prime Minister Hazem Beblawi to the UAE.
The report said one billion dollar of the aid would be allocated to meet fuel needs of Egypt, while the remainder would be “aimed at improving the living conditions, lives and human development of the Egyptian people through a number of projects.”
The construction of 50,000 homes and 100 schools, as well as health clinics, renewable energy initiatives and 25 wheat silos are among the projects.
Beblawi thanked Sheikh Mohammed bin Rashid, the vice president of the United Arab Emirates and the ruler of Dubai, for “all support received from the UAE to enable Egypt and its people to pass this phase and successfully restore the political, security and economic stability.”
In July, Abu Dhabi gave one billion dollar in aid to Egypt to show its support for the Egyptian army’s coup against President Mohamed Morsi, the country’s first democratically elected leader.
The UAE also had previously deposited an additional $2 billion in Egypt’s central bank to be held without interest, in order to prop up Cairo’s currency.
Saudi Arabia and Kuwait have also pledged nine billion dollars in aid to Egypt.
The head of Egypt’s armed forces, General Abdel Fattah el-Sisi announced the President morsi was no longer in office on July 3. The head of the Supreme Constitutional Court, Adly Mahmoud Mansour, was appointed the new interim president.
