Egypt Received $10.6 bln in Aid from Gulf States Last Fiscal Year

Egypt received a total of $10.6 billion in aid from the Gulf states last fiscal year, the country’s finance minister said.

The country was handed EGP 74 billion in aid, about EGP 53 billion was in the form of petroleum resources, and EGP 21 billion came in the form of cash grants, Hani Kadri Dimian was quoted as saying in Reuters.

Last Monday, Egypt received a non-refundable $1 billion grant from Kuwait, according to data available on Argaam.

After the ouster of president Mohamed Morsi last year, Gulf states pledged about $12 billion in aid to the Arab world’s most populous nation.

Saudi Arabia alone said it would provide $5 billion in the form of petroleum resources, as well as cash grants, according to Argaam.