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FINANCIAL NEWS
USD7 b in Gulf aid delivered to Egypt
30 Sep 2013
(MENAFN) The governor of Egypt’s central bank said that the country received USD7 billion in aid out of the pledged USD12 billion by Gulf nations, Saudi Gazette reported.
The USD7 billion is divided between the UAE, with USD3 billion, and Saudi Arabia and Kuwait with USD2 billion each.
A USD2 billion of financial support was repaid to Qatar recently following a failure in talks to convert the support into three-year bonds.
The governor said that more financial aid from Gulf nations is expected which would help the North African country’s economy to stabilize.
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