FINANCIAL NEWS

Saudi Arabia, UAE, Kuwait hand Egypt USD6b

23 Apr 2015

(MENAFN) The Egyptian government received a sum of deposited USD6 billion from Saudi Arabia, Kuwait and the United Arab Emirates as a part of the Gulf’s continual support for Egypt, Reuters reported.

The three deposits share an interest rate of 2.5 percent and due dates that range from three to five years. So far, Saudi, Kuwait, the UAE and Oman jointly granted Egypt a total of USD12.5 billion.

“Today … USD2 billion from each state came into the country’s foreign exchange holdings,” the governor and director of the Central Bank of Egypt (CBE) said in a statement.

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