Kuwait offers $4 bn aid package to Egypt

Kuwait offered Egypt on Wednesday an aid package of $4 billion, a minister said, bringing to $12 billion the total pledges by Gulf monarchies to Cairo since the army ousted Islamist president Mohamed Morsi last week.

The Kuwaiti package includes a grant of $1 billion, a deposit of $2 billion at Egypt's central bank, in addition to oil and oil products worth $1 billion, State Minister for Cabinet Affairs Sheikh Mohammad Abdullah Al-Sabah said.

The United Arab Emirates and Saudi Arabia pledged on Tuesday aid packages of $3 billion and $5 billion, respectively.