Jul 9, 2013 2:11 PM by Associated Press
RIYADH, Saudi Arabia (AP) - Saudi Arabia's finance minister says the kingdom has pledged $5 billion in grants and loans to Egypt's new government, a second major promise of aid from the Gulf to the cash-strapped country after the ouster of President Mohammed Morsi.
Saudi Arabia is a leading critic of Morsi's Muslim Brotherhood, as is the United Arab Emirates which earlier Tuesday announced a $3 billion package to Egypt.
The aid is the clearest sign yet of shifting policies among the wealthy Gulf nations. Qatar had been a main backer of the Brotherhood, giving Morsi's government several billion dollars.
Saudi Finance Minister Ibrahim al-Assaf says the package includes $2 billion to be deposited in Egypt's Central Bank and $2 billion worth of oil and gas.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
PLEASE HELP US MODERATE COMMENTS
Offensive or inappropriate comments are subject to removal. To report a comment, please e-mail us at email@example.com, and include the name of the story and information on the comment.
Thank you! KSBY.com