May 26, 2016 / 2:27 PM / a year ago

Egyptian cabinet approves $2.5 bln grant from Saudi Arabia -statement

CAIRO, May 26 (Reuters) - Egypt’s government approved on Thursday a $2.5 billion grant from Saudi Arabia that was agreed upon in April, the cabinet said in a statement.

“The cabinet approved a grant agreement between the governments of Egypt and Saudi Arabia in which Saudi Arabia will provide Egypt a sum of $2.5 billion to support the Egyptian economic programme,” the statement said.

The grant was first agreed in April. (Reporting by Ahmed Aboulenein; Editing by Lin Noueihed)

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