In February 2024, Egypt and the UAE signed a $35 billion investment deal to develop the Mediterranean coast of Ras Al Hekma. The project will be partly financed by existing Emirati deposits in the Egyptian central bank and is intended to help alleviate part of Egypt’s foreign debt and economic challenges due to its acute debt crisis. the announcement has sparked renewed debates about the role of gulf states in rescuing neighbouring countries' economies. Specifically, it highlights a new trend of gulf countries using their financial packages to secure favourable investment opportunities in recipient countries. […]