Saudi to aid Egypt $4bnin form of deposits and oil products

Saudi Arabia is likely to give Egypt additional 4 billion U.S. dollars in the form of deposits and petroleum products, state-run Ahram newspaper reported on Thursday. The value of the aid will include 2 billion dollars in deposits in the Central Bank of Egypt and about the same amount in facilities like oil products, the newspaper quoted unnamed ministerial source as saying. The package as well as Saudi investments in the Egyptian markets will be discussed during the visit of Prime Minister Hazem al-Beblawi to the kingdom next week, the report added. After Egyptian Muslim Brotherhood was out of power last July, Saudi Arabia has provided 5 billion dollars assistance to Egypt, including 2 billion dollars in the form of oil and gas products, 2 billion dollars as deposits in the Central Bank of Egypt and 1 billion dollars as a grant.