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Saudi Arabia looking to provide Egypt with $1.45bn assistance package - Daily News Egypt

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Saudi Arabia looking to provide Egypt with $1.45bn assistance package

The Saudi programme includes a $200m grant to fund small and medium enterprises, aimed at job creation and widening social solidarity.


A delegation from Saudi Arabia’s development fund arrived in Egypt Friday to discuss a proposed $1.45bn assistance package.

Heading the delegation is Hassan bin Mohamed El-Attas, general manager of the Saudi Development Fund’s technical administration.

The Saudi programme includes a $200m grant to fund small and medium enterprises, aimed at job creation and widening social solidarity.

It also includes soft development loans of $500m to fund priority development projects in different sectors, as well as establishing a credit line of $750m to support Egyptian demand for Saudi non-oil exports.

News sources state that the delegation will hold talks with officials in sectors of electricity, transportation, health, education, irrigation, water issues, housing and food security as well as other sectors benefiting from the assistance package.

Translated from AlBorsa Newspaper

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https://wwww.dailynewssegypt.com/2013/11/23/saudi-arabia-looking-to-provide-egypt-with-1-45bn-assistance-package/
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