Riyadh announces economic aid to Egypt

Saudi Arabian King Salman bin Abdulaziz Al Saud announced Wednesday that his country will support the Egyptian government and help it overcome the economic crisis it is experiencing from a lack of foreign currency. He ordered the increase of Saudi investments in Egypt to up to 8 billion dollars, the supply of all of Egypt's oil needs for the next five years, and the purchase of Egyptian bonds. DEBKAfile's political and security-related sources report that Riyadh is paying back Cairo for the participation of the Egyptian air force and fleet in the war in Yemen, including the recent capture of Hanish Island in the Bab-el-Mandeb strait.

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