$12bn pledged for Egypt

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Updated 14 March 2015
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$12bn pledged for Egypt

The Saudi government would give Egypt $4 billion (over SR15 billion) in aid to help secure and develop its economy, Crown Prince Muqrin, deputy premier, announced here Friday. Prince Muqrin said $2 billion (SR7.5 billion) would be deposited in the Egyptian Central Bank, while the rest would be distributed for developmental assistance through the Saudi Development Fund. The UAE and Kuwait have also pledged $4 billion each, bringing the total investments and central bank deposits by the three Gulf Cooperation Council countries to $12 billion (SR45 billion). Addressing the three-day Egypt Economic Development Conference in the Red Sea resort city of Sharm El-Sheikh, Prince Muqrin said the Kingdom has already given Egypt nonrefundable aid in various forms, including petroleum grants. He said the aim of the support is to ensure that Egypt has a stable economy and can stand up to security threats. He condemned the terror attacks across the country, and urged the international community to play its role in helping the country, and not take decisions that would see it accused of double standard. Prince Muqrin said that Custodian of the Two Holy Mosques King Salman wants the country to prosper. He praised Egypt for its recent economic reforms, which would create an attractive environment for investors. There have already been signs of economic recovery, he said. He said King Salman is confident that the “wisdom” of President Abdel Fattah El-Sissi would help achieve this economic turnaround. The delegation includes Adviser at the Court of the Crown Prince, Prince Mansour bin Muqrin; Finance Minister Ibrahim Al-Assaf; Commerce and Industry Minister Tawfiq Al-Rabiah; Culture and Information Minister Adel Al-Toraifi; and Minister of State for Foreign Affairs Nizar Madani. El-Sissi thanked the Kingdom for its efforts under the late King Abdullah and now King Salman, which he said would help stabilize the country and ensure its development. He also lauded the rulers of the UAE, Kuwait, Jordan and Bahrain. On the sidelines of the conference, Crown Prince Muqrin met with Emir of Kuwait Sheikh Sabah Al-Ahmed Al-Sabah and discussed bilateral relations and various regional and international developments. Also attending are delegations from 100 countries in Africa, Latin America, Asia, Europe and North America. There are also 25 Arab and international organizations participating in the conference. The conference is expected to attract more than 2,000 government and business leaders from across the world, including the International Monetary Fund’s Christine Lagarde and US Secretary of State John Kerry. Cairo wants to double foreign investment in this fiscal year to $8 billion. “I’m expecting here to see $15-$20 billion in agreements signed,” Investment Minister Ashraf Salman told Reuters earlier, adding that the deals would cover power plants, real estate and agricultural projects.


Former Egyptian president Morsi buried in Cairo: lawyer

Updated 18 June 2019
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Former Egyptian president Morsi buried in Cairo: lawyer

  • Morsi, was suffering from a benign tumor, had continuous medical attention, says state TV
  • The former president died aged 67

CAIRO: Egypt’s first democratically elected president Mohammed Morsi was buried on Tuesday in eastern Cairo, one of his lawyers said, a day after he collapsed in court and died.

“He was buried in Medinat Nasr, in eastern Cairo, with his family present. The funeral prayer was said in Tora prison hospital” where he was declared dead on Monday, his lawyer Abdel Moneim Abdel Maksoud said.

Egyptian state television announced that Morsi, 67, who was ousted by the military on July 3, 2013, had been attending a court session at his trial on charges of espionage and links with the Palestinian militant group Hamas.

It was reported that he collapsed in the courtroom inside a glass cage he and others had been sharing, before his body was transferred to a local hospital.

Morsi died from a sudden heart attack, state television reported early on Tuesday, citing a medical source. The source said the former president, who was suffering from a benign tumor, had continuous medical attention.

Attorney-General Nabil Sadiq issued a statement saying: “The accused, Mohammed Morsi, in the presence of the other defendants inside the cage, fell unconscious, where he was immediately transferred to the hospital.

“The preliminary medical report stated that by external medical examination they found no pulse, no breathing, and his eyes were unresponsive to light. He died at 4:50 p.m. and no apparent injuries to the body were found.”

Sadiq added he had ordered the transfer of teams from the Supreme State Security Prosecution Office and the Southern Cairo Prosecution Office to conduct an investigation into Morsi’s death, and to examine surveillance footage from the courtroom and collect witness testimonies.

He also ordered that a senior forensic committee headed by the chief medical officer and the director of forensic medicine to prepare a forensic report on the cause of death.

Various outlets say that a state of high alert has been issued by the military and the Ministry of the Interior throughout the country following the news, for fear of riots or activity by the Muslim Brotherhood, in which Morsi was a prominent figure.

Morsi became president in June 2012 after the first democratic elections in the country following the overthrow of Hosni Mubarak on Jan. 25, 2011. He was Egypt’s fifth president.

He was born to a family of farmers on Aug. 20, 1951, in the village of Al-Adwa in Sharkia province. He married in 1978 and leaves behind his wife, five children and three grandchildren.

Following his deposition and arrest, Morsi was sentenced to 20 years imprisonment on Oct. 22, 2016, over bloody clashes that took place on Dec. 5, 2012 in front of the presidential palace in Cairo, between supporters of the Muslim Brotherhood and opponents of Morsi rejecting a constitutional declaration issued in November of that year.

Other sentences meant his total incarceration could have been up to 48 years, with the ongoing espionage case potentially carrying a further maximum sentence of 25 years.

In Istanbul on Tuesday, hundreds of Muslim Brotherhood supporters took to the streets, mourning former Egyptian president Mohamed Mursi and some chanting slogans blaming Cairo authorities for his death.

* With AFP