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Egypt's president (L) and the king of Saudi Arabia

Egyptian cabinet approves $2.5bn grant from Saudi Arabia

CAIRO, May 27, 2016

Egypt's government approved on Thursday a $2.5 billion grant from Saudi Arabia, 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. - Reuters




Tags: Egypt | Saudi | grant |

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