Egyptian President has been pledged $12 billion by its Arabian allies. (Photo : Reuters)
On the International Summit held on Friday, The Gulf Arab Allies have pledged $12 billion to Egypt. This is a huge economic boost for the Egyptian government which has been going through the side-effects of the political struggle. The big three of Mid-East Kuwait,Saudi Arabia and United Arab Emirates(UAE) have offered a sum of $4 billion to Egypt which was a country in turmoil 4 years back.
The Egyptian government hopes to bring a series of revolution which would project an image of stability leading to a bright future for Egypt. Egypt's President Abdel Fattah el-Sisi has also shown concerns for attracting foreign investors to Egypt, The Wall Street Journal reported.
Investment Minister Ashraf Salman showed signs of hope in his statement before the meeting. He said, "I am expecting here to see $15-20 billion in agreements signed."
General Electric has also promised to invest $200 million in a manufacturing and training facility for the talented Egyptians.
Also, the Egyptian government has signed several agreements to provide satisfaction to their allies.This incident has a significant impact on the western world as it marks the huge economic resources present in the Muslim countries. The government has praised the Muslim community for such benevolent gestures.
The community has also shown concerns on securing their borders against terrorist organisations such as the ISIS. The destruction caused by ISIS was also a major topic discussed in the summit. Egypt has a significant importance in the middle east due to its rich history and geographical importance. Egypt's location being near to ISIS strongholds means a constant threat to its people and economy.DawnNews
Until now, no donation has been made by the western communities. The question that rises here is will it change the lives of millions of Egyptians? This is an answer that only time can tell.
