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Kuwait offers $4 bn aid package to Egypt

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(Globalpost/GlobalPost)

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.

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http://www.globalpost.com/dispatch/news/afp/130710/kuwait-offers-4-bn-aid-package-egypt