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
