Kuwait pledges $4 billion aid package to Egypt
Iran Press TV
Wed Jul 10, 2013 8:54PM GMT
Kuwait's cabinet has approved an urgent aid package to Egypt apparently as a show of support for the military coup against ousted President Mohamed Morsi.
On Wednesday, the official Kuwait News Agency quoted the minister of cabinet affairs, Mohammad Al Sabah, as saying that Egypt will receive a $2 billion loan, a $1 billion grant and $1 billion worth of oil and petroleum products.
The decision for the aid package was announced only a day after Saudi Arabia and the United Arab Emirates pledged $8 billion in financial assistance to Egypt.
The aid from the three Persian Gulf Arab oil producers is expected to help Egypt avoid a balance of payments crisis and overcome severe fuel shortages.
On July 3, Egyptian army chief General Abdel Fattah al-Sisi announced that Morsi was no longer in office and declared that the head of the Supreme Constitutional Court, Adly Mansour, had been appointed as the new interim president.
Since then, Egypt has been the scene of rival rallies and clashes between thousands of the supporters and opponents of the ousted president.
On July 8, Egyptian officials said that 84 people were killed in clashes between the supporters of Morsi and security forces in Cairo.
Morsi is reportedly being held “preventively” by the military. Senior army officials say he might face formal charges over accusations made by his opponents.
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