Arab aid starts flowing after Morsi’s departure

Saudi Arabia has granted $5 billion in aid to Egypt, consisting of a $2 billion deposit with the Central Bank, $2 billion in energy products and $1 billion in cash, the Saudi finance minister Ibrahim Alassaf announced on Tuesday.

The financial relieve comes after the Egyptian military ousted President Mohamed Morsi following days of mass protests.

The United Arab Emirates foreign minister arrived in Cairo today, heading a senior delegation in a visit “to show full support to the Egyptian people,” according Ahmed Moslimani, media advisor to the interim president.

Foreign Minister Sheikh Abdullah bin Zayed and National Security Adviser Sheikh Hazza bin Zayed met with the interim president and minister of defense. The Emirati delegation announced a grant of $1 billion and another of $2 billion to be deposited at the Central Bank with no interest, in addition to support for energy and petroleum products.

A statement issued by the presidency indicated that the UAE delegation included Sheikha Lubna bint Khalid Al Qasimi, minister of development and international cooperation, Abdullah bin Zayed Al Nahyan, Obaid Al Tayer, minister of state for financial affairs and Suhail Mazroa, minister of energy. They met with an Egyptian team who included Minister of State Mohamed Amr Kamel and Hisham Ramez, the governor of the Central Bank.

The meeting dealt with bilateral relations between the two countries, and the prospects for bilateral cooperation in all fields.

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