Saudi Arabia extends Aid Package to Egypt

Saudi Arabia will implement its financial pledges to Egypt, said Minister of Planning and International Cooperation Fayza Abul-Naga.

Abul-Naga, in statements carried by Saudi Al-Watan Newspaper on Saturday, denied media reports claiming that Saudi Arabia intends to suspend financial aid to Egypt.

During this month, Saudi Arabia will pump approximately $1bn in the form of a deposit at the Central Bank of Egypt (CBE), said Abul-Naga stressing that the Saudi kingdom has provided a $500 million loan to boost Egypt’s budget during the past period, according to SIS.