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Egypt receives $2 billion deposit from Kuwait

Reuters, Thursday 26 Sep 2013

Egypt obtained $2 billion from Kuwait as part of the promised funds after the ousting of Islamist president Mohamed Morsi

Egypt's central bank has received a $2 billion deposit from Kuwait, the governor said on Thursday.

The deposit is part of $12 billion in aid that Saudi Arabia, Kuwait and the United Arab Emirates promised Egypt after the ousting of  Islamist president Mohamed Morsi on July 3, following mass protests.

"Yes. The Kuwait $2 billion (has been) received," Hisham Ramez told Reuters in a text message.

Ramez said one week ago that Egypt had returned a $2 billion deposit from Qatar, which strongly supported Morsi, after negotiations to turn it into three-year bonds had failed.

 

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