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Saudi Arabia committed to support Egypt’s economy by $3.75 billion
Saudi Foreign Minister Saud al-Faisal pointed out that a sum of $0.5 billion had been transferred by Saudi Arabia as a grant in support for the Egyptian budget in May 2011. (AFP)

Saudi Arabia committed to support Egypt’s economy by $3.75 billion

Al Arabiya
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Saudi Arabia is committed to support Egypt’s economy, Saudi Foreign Minister Saud al-Faisal said on Tuesday. “The Kingdom is committed to offer Egypt $3.75 billion.”

Faisal pointed out that a sum of $0.5 billion has already been transferred by Saudi Arabia as a grant in support for the Egyptian budget in May 2011.

Faisal’s statements came in response to recent accusations by Egypt’s Prime Minister Kamal al-Ganzouri, who said that Egypt did not receive any financial support from the Gulf states.

King Abdullah bin Abdul Aziz “is very keen to address what is best for the brotherly Egyptian people, for the sake of overcoming the challenges facing the Egyptian economy.”

Ganzoury was quoted few days ago as saying that “Arab and foreign countries have vowed to offer Egypt financial aid, but the promises were not fulfilled.”

Saudi Arabia was one of the first countries which promised to support Egypt financially following the popular uprising that toppled former president Hosni Mubarak.


(Translated from Arabic by Abeer Tayel)