Egypt’s Central Bank Receives $2 bln Saudi Loan – Governor

By Yomna Yasser On Jul 21, 2013

Egypt’s central bank has received $2 billion in Saudi funds in the form of a five-year interest-free loan, the bank’s governor Hisham Ramez said on Sunday.

The funds deposited with the bank are part of a $5 billion aid package to Egypt that Saudi Arabia pledged on July 9 after the Egyptian army overthrew President Mohamed Morsi.

The aid will also include $2 billion in energy products and $1 billion in cash.

Source: Reuters