US$9 bn in new UAE and Saudi aid

A senior finance ministry official has told the Turkish Anadolu news that Egypt is receiving a new aid package of US$9 billion from Saudi Arabia and the United Arab Emirates in January.
He said negotiations for the package started last September.
Egypt had received $12 billion from Saudi Arabia, the UAE and Kuwait upon the ouster of President Mohamed Morsy, who was a member of the Muslim Brotherhood, on 3 July.
The official, who requested anonymity, added that $5 billion would come from Saudi Arabia and the other US$4 billion would come from the United Arab Emirates, both sums to be paid over five years without interest.
He said the package will support Egypt’s foreign reserves, explaining that part of the package would be in the form of petroleum products worth $1 billion.
Edited translation from Al-Masry Al-Youm

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