Sharm El-Sheikh-Mubasher: GCC states have pledged $12.5 billion in financial aid for Egypt’s economy.

In a speech during the inauguration ceremony of Egypt Economic Development Conference (EEDC) in the Red Sea resort of Sharm El-Sheikh, Kuwaiti emir Sheikh Jaber Al-Ahmed Al-Jaber Al-Sabah said Friday that Kuwait will inject $4 billion in Egypt economy.

Saudi Arabia’s crown prince Muqrin bin Abdul-Aziz Al-Saudi also announced that the Kingdom will provide $4 billion in aid for Egypt.

Sheikh Mohamed bin Rashid Al Maktoum, Ruler of Dubai, UAE Vice President and Prime Minister also announced that the UAE will inject $4 billion worth of investments in Egypt’s economy.

The Sultanate of Oman will provide $500 million in financial aid for Egypt’s economy, which will be sent over five years, announce Omani prime minister Yahia bin Mahfouz Al Manthiry.

In a speech delivered before Egypt’s economic summit that kicked off Friday, the prime minister reiterated his country’s support for Egypt.