Egypt to receive $4bn from Kuwait in aid

Egypt: Kuwait has joined Saudi Arabia and the UAE in offering Egypt an aid package of $4bn, bringing to $12bn the total pledges by Gulf countries to Cairo since the army ousted Islamist president Mohamed Morsi last week, AFP has reported. The Kuwaiti package includes a grant of $1bn, a deposit of $2bn at Egypt’s central bank, in addition to oil and oil products worth $1bn, said state minister for cabinet affairs, Sheikh Mohammad Abdullah al-Sabbah. The $1bn worth of oil and products will be also given as a grant, Sheikh Mohammad noted. []

Powered by WPeMatico

This entry was posted in Egypt News. Bookmark the permalink.

Leave a Reply