Middle East Economic Survey


No 22



Saudi Arabia Pledges $4Bn To Egypt

Saudi Arabia has pledged $4bn in aid to Egypt in the form of soft loans, deposits and grants, the head of the Higher Military Council (HMC) in Egypt, Field Marshal Muhammad Husain Tantawi, said on 21 May. The field marshal has called King 'Abd Allah of Saudi Arabia to thank him for this aid, the Saudi Press Agency has reported. The king is reported to have proposed an economic program to support...