Azerbaijan, Baku, Oct.4/ Trend, R.Hafizoglu /
Persian Gulf states will allocate $100 billion to Egypt, "Al Jazeera" TV channel reported on Thursday.
According to the TV channel, these funds will be spent for development of infrastructure, tourism and housing construction.
After the revolution of 2011, the Arab Gulf countries and especially Saudi Arabia and Qatar, have pledged significant financial support to Egypt to change its social and economic areas. However, so far the Gulf monarchies' help to Cairo was limited by short term loans targeted mainly to allocate support for imports from these countries. These sums differed from those promised to Egypt.