EGYPT: Government approved on Thursday a $2.5 billion grant from Saudi Arabia that was agreed upon in April, the cabinet said in a statement – @AceFinanceNews

#AceFinanceNews – May.29: Egyptian cabinet approves $2.5 bln grant from Saudi Arabia -statement

CAIRO: Egypt’s government approved on Thursday a $2.5 billion grant from Saudi Arabia that was agreed upon in April, the cabinet said in a statement.

The cabinet approved a grant agreement between the governments of Egypt and Saudi Arabia in which Saudi Arabia will provide Egypt a sum of $2.5 billion to support the Egyptian economic programme,” the statement said.

The grant was first agreed in April.

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