WASHINGTON PUSHES EGYPT AID OVER $50 Billion.
- $6 Billion from Washington
- $8 Billion from EU (conditional on immigration policies)
- $8 billion from IMF
- $35 Billion from UAE (equivalent to Egypt's entire foreign reserves and 7% of UAE's GDP.
#Egypt
#IMF
#Sisi
#Balaha
#UAE
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Egypt's Largest Ever Foreign Investment
The UAE has pledged to invest $35 billion in Egyptian real-estate projects this year
Convicted murder-for-hire criminal Talaat Moustaffa "adopting the latest cutting-edge digital and technological smart city solutions" in Ras El-Hekma.
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"The exacerbation of the economic challenges in Egypt is not in the interest of the UAE," said Ebtesam Al-Ketbi, head of an Abu Dhabi-based think tank. "The goal is to ensure stability," she said, and avoid a "return of Islamist groups such as the Muslim Brotherhood."
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UAE has called for military action against Axis of Resistance heros Ansar Allah in Yemen.
The $24 billion for Ras El-Hekma’s development rights and $11 billion for other projects is equivalent to Egypt’s entire foreign reserves.
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For ADQ — the wealth fund leading the UAE deal — it would represent some 17.5% of its total assets under management.
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In a series of deals since early 2022, ADQ became the biggest shareholder in two of Egypt’s top three listed companies — Commercial International Bank and Eastern Tobacco Company, the country’s main cigarette-maker.
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Convicted criminal Egyptian billionaire Hisham Talaat Moustafa runs the third - Talaat Moustafa Group. Moustafa received the death sentence for ordering the stabbing death of singer Suzanne Tamim in Dubai in 2008. Her throat was slit.
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That was cut to 15 years in jail on appeal and Moustafa was released from jail last week among 502 prisoners pardoned by Sisi. Moustafa is central to the Ras El-Hekma deal and the sale of state-held stakes in some of Egypt’s most famous historic hotels.
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The plans are certainly grandiose for Ras El-Hekma, which is three times the size of Manhattan and sits on the coastline running west of Alexandria toward Libya — a stretch of golden sands that’s a long-standing favorite for Egyptian elites who summer in villas.
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ADQ is promising "high-end tourism" facilities to turn an area that’s better known to Westerners as the site of some of World War II’s major desert battles into a destination with international cachet.
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Egyptian authorities had long-standing plans for Ras El-Hekma. Of the $35 Billion from the UAE, $24 billion is for Ras El-Hekma’s development rights. UAE started after Russia’s SMO in Ukraine exposed long-standing risks in the North African nation’s debt-ridden economy.
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Ras El-Hekma will be a "next-generation city" comprising mainly of tourism amenities, a "free zone", and an "investment zone" combining, among others, "residential, commercial, and recreational spaces with seamless connectivity domestically and internationally".
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ADQ is leveraging its expansive portfolio and partners, aiming to unlock the appeal of Ras El-Hekma as a "premium international financial and tourism destination", adopting "the latest cutting-edge digital and technological smart city solutions".
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British military trained MBZ (Mohamed bin Zayed Al Nahyan) and El-Sisi:
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Some may tell you that UAE’s purchase of Egyptian land to build the coastal city of Ras El Hekma is for the Egyptians to take in the palestinians. Not so fast.
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UAE is giving Egypt aid to boost the economy, prevent another revolution and to buy weapons for an upcoming war.
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The reason behind this change is that the focal point of the Middle East has moved. Previously, Saudi Arabia and the United Arab Emirates (UAE) were seen as the main powers in the region, competing for influence.
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However, this dynamic has shifted towards Egypt due to the situation at the Rafah border. This change indicates that Egypt is becoming more central in Middle Eastern politics and issues.
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If Egypt decides to oppose the Zionist Entity, it’s likely that many other Sunni countries in West Asia will also align with Egypt. This could happen because of either direct pressure from Egypt or through some sort of coercion (yes Egypt has leverage over Gulf countries).
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This shift means that Egypt’s actions and decisions could significantly influence the direction and alliances within the Middle East.
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This investment, like all, has coercion attached, possibly:
- To stop Egypt joining hands with KSA in Sudan and removing their influence.
- To be part of a coalition that may go against the Zionist Entity in the future.
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As the Gaza Genocide unfolds, MBZ still wants to keep a good relationship with the Zionist Entity. He also wants to stay connected with the US through it.
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The main reason for this is because MBZ is worried about MBS. He knows about MBS’s ambition to annex the UAE and as MBZ and other sunni leaders within the region become tired of the west’s incapability of calming the region down given their own energy and military base plans.
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They may decide to form a bloc that’ll most likely be opposed to the west, if the Rafah crisis goes ahead.
This group would bring together countries like Turkey, Egypt, Algeria, Saudi Arabia, and other Gulf countries. This bloc would be antagonistic towards the Zionist Entity.
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Say this bloc becomes an anti-"Israel". This situation puts MBZ in a tough spot. He doesn’t want to become isolated certainly doesn’t want to join Iran’s axis of resistance, given that he amongst all of the countries hates Iran the most.
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MBS’s plan to expand his influence through this bloc is a significant threat to MBZ. So to thwart any misadventures, why not invest in Egypt and stake an interest and become a part of that coalition in the near future?
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But if this bloc is made then by de facto it would become MBS’s NATO. It’s the dream he always wanted and if this Sunni Coalition works out then he doesn’t need to sign military agreements with Iran or accept their hegemony.
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Brigadier General Bahman Behmard, deputy head of operations at the General Staff of the Iranian Armed Forces, and Saudi Chief of General Staff General Fayyad bin Hamed al-Ruwaili met on the sidelines of the World Defense Show 2024 in Riyadh in February.
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According to Press TV: "During the meeting, Behmard highlighted Iran’s defense and military capabilities and expressed the country’s readiness to develop relations with Saudi Arabia..."
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"...He invited Ruwaili to visit Tehran and gave him a message from the Iranian defense minister addressed to his Saudi counterpart."
Last March, Iran and Saudi Arabia agreed under a Chinese-brokered deal to restore diplomatic relations severed in 2016.
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Returning to the deal. After the Ras El-Hekma agreement, Saudi Arabia revived talks to develop its own slice of beachfront in Egypt called Ras Gamila, near the Red Sea resort of Sharm El-Sheikh, in a deal that might be worth several billion dollars.
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