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FINANCIAL NEWS
Turkey pledges USD2b aid package to Egypt
16 Sep 2012
(MENAFN) Egypt’s finance minister, Mumtaz Al Saeed, announced that Turkey will provide his country with a USD2 billion aid, reported The Peninsula.
The amount, of which half would be in the form of bilateral loans, would be used to strengthen the country’s foreign currency reserves and shore up investment in infrastructure.
In August, the North African country has formally asked the International Monetary Fund (IMF) for a USD4.8 billion loan to boost its economy which deteriorated due to last year’s uprising.
It is worth noting that on September 6, Qatar has pledged USD2 billion in loans to support the Egyptian budget, and to invest USD18 billion in the country’s tourism and industrial projects over the coming 5 years.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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