Egypt Independent

Source: Saudi Arabia to offer new aid package to Egypt

Saudi Arabia will grant Egypt US$5 billion to support the economy after the presidential elections take place, in addition to the $2 billion that was sent a few days ago, an unidentified source from International Cooperation Ministry said.

Saudi Arabia approved a package that includes cash and petroleum aid, the source added.

The source also said that the Egyptian government held talks with Kuwait and Saudi Arabia since both countries will offer new aid packages to Cairo in 2014. 

The biggest part of the aid program and the non-refundable grants by a number of Gulf states will include providing Egypt with new batches of fuel and butane gas before the summer months in order to avoid power cuts, the source said.


Edited translation from Al-Masry Al-Youm