Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, state-run Egyptian newspaper Al Ahram reported on January 30. Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the kingdom by Egypt’s interim Prime Minister Hazem el-Beblawi. Gulf Arab states have showered Egypt with billions of dollars since the army toppled President Mohamed Morsi of the Muslim Brotherhood in July last. The funds have kept the economy afloat during political turmoil which has hit investment and tourism hard.
SAUDIA TO GIVE EGYPT UP TO $4 BLN MORE AID
Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, state-run Egyptian newspaper Al Ahram reported on January 30.
