Saudi Arabia promises USD 5 billion to Egypt

July 10, 2013 02:17

Saudi Arabia's finance minister says the kingdom has pledged USD 5 billion in grants and loans to Egypt's new government, a second major promise of aid from the Gulf to the cash-strapped country after the ouster of President Mohammed Morsi.

Saudi Arabia is a leading critic of Morsi's Muslim Brotherhood, as is the United Arab Emirates which earlier Tuesday announced a USD 3 billion package to Egypt.

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