Saudi Arabia grants Egypt another $5.8 bn in aid

The new $5.8 bn grant was extended by Riyadh Thursday, on top of the $14 already transferred to Cairo, to stabilize the Egyptian economy and bolster Gen. Abdel-Fattah El-Sisi’s run for president. Part of the grant will be transferred in cash to Egypt’s central bank and part in oil products to cover a shortage.

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