Saudis Offered $3.7 Billion Aid to Post-Mubarak Egypt, SPA Says

Saudi Arabia offered $3.7 billion to aid the Egyptian economy after mass protests led to the ouster of Hosni Mubarak, Egypt’s former president, a year ago, the official Saudi Press Agency reported last night, citing Foreign Minister Prince Saud Faisal.

The kingdom transferred $500 million in May, SPA said. Egypt has delayed talks over a $1.45 billion aid package offered by the Saudi Development Fund, the Riyadh-based news service said, citing the minister.

To contact the reporter on this story: Mourad Haroutunian in Riyadh at mharoutunian@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net

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