From Ahram Online

Saudi Arabia is expected to give Egypt up to $4 billion in additional aid in the form of central bank deposits and petroleum products, Egyptian daily newspaper Al-Ahram reported. 

The UAE is also expected to contribute $1.8 billion to the new aid package in the form of fuel shipments, the source added.

Citing an unnamed ministerial source, the newspaper said the package would be worked out during a visit next week to the oil-rich kingdom by Egypt’s interim Prime Minister Hazem El-Beblawi.

According to Al-Ahram, half of the latest Saudi aid package is expected to be deposited at the Central Bank of Egypt (CBE) before the end of January, with the other half to be delivered in the form of fuel shipments

Gulf Arab states have pledged $12 billion to Egypt since the 3 July overthrow of Islamist President Mohamed Morsi of the Muslim Brotherhood.

An anonymous source familiar with the matter told Ahram Online on Thursday that Egypt has already received the full amount of the first Gulf aid package in the form of deposits at the CBE, grants and fuel shipments.

The funds have kept the economy afloat during political turmoil, which has hit investment and tourism particularly hard.

Written by Waad Ahmed/Read more atAhram Online