Friday, January 31, 2014

More financial aid from Gulf for Egypt: $ 5,8 billion

Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, Egyptian daily newspaper Al-Ahram reported on Thursday.
The UAE is also expected to contribute $1.8 billion to the new aid package in the form of fuel shipments, the source added.
Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the oil-rich kingdom by Egypt's interim Prime Minister Hazem El-Beblawi.
According to Al-Ahram, half of the latest Saudi aid package is expected to be deposited at the Central Bank of Egypt (CBE) before the end of January, with the other half to be delivered in the form of fuel shipments
Gulf Arab states have pledged $12 billion to Egypt since the 3 July overthrow of Islamist President Mohamed Morsi of the Muslim Brotherhood.

No comments: