Egypt Independent

Saudi Arabia to provide $2.9 bn to Egypt



Al-Mal
weekly newspaper quoted informed sources on Sunday as saying that Egypt would receive financial assistance and soft loans from Saudi Arabia in the form of US$2.9 billion.
 
The agreements will be signed on September 7 and Saudi King Salman bin Abul Aziz will attend the meetings, the newspaper added.
 
The financial packages include $750 million for development projects in Egypt, $750 million for a program to support exports and $1.4 billion to buy petroleum products, according to Al-Mal.
 
Saudi Arabia had announced that it would provide $4 billion to Egypt during the economic summit of Sharm el-Sheikh in mid-March. 
 
The UAE and Kuwait had also announced financial assistance packages to Egypt at the time.
 
 
Edited translation from Al-Masry Al-Youm