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Saudi Arabia to give Egypt $5 billion in aid

Following military-backed ouster of president Morsi, Saudi finance minister tells Reuters that oil-rich kingdom will send $5-billion aid package to Egypt on Tuesday

Reuters, Tuesday 9 Jul 2013
Saudi Arabia to give Egypt $5 billion in aid
King Abdullah of Saudi Arabia (Photo: AP)
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Saudi Arabia approved a $5 billion aid package to Egypt on Tuesday comprising a $2 billion central bank deposit, $2 billion in energy products, and $1 billion in cash, the Saudi Finance Minister Ibrahim Alassaf told Reuters.

The aid comes after the Egyptian army overthrew President Mohamed Morsi of the Muslim Brotherhood.

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