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FINANCIAL NEWS
Saudi Arabia grants Egypt USD2b aid
22 Jul 2013
(MENAFN) As part of a USD12 billion Gulf aid to Egypt, Saudi Arabia has sent USD2 billion, to help the cash-strapped economy, after the removal of Islamist President Mohamed Mursi, Reuters reported.
Central bank governor Hisham Ramez said the USD2 billion of Saudi funds arrived in the form of a five-year interest-free deposit at the bank.
The bank recently got USD3 billion aid from the UAE, USD2 billion of which was a cash deposit and USD1 billion an outright grant.
Saudi Arabia has promised another USD2 billion in energy products and USD1 billion in cash, while Kuwait has promised USD4 billion.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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