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Egypt Receives $1bn Grant From Kuwait

Egypt Receives $1bn Grant From Kuwait

Gulf countries have stepped in to help Egypt since the ouster of Islamist President Mohamed Mursi last year.

Egypt received a $1 billion grant from Kuwait earlier this week, an Egyptian government source said on Thursday, the latest in billions of dollars of aid to arrive from Gulf Arab allies since the ouster of Islamist President Mohamed Mursi last year.

“Yes, we received a $1 billion grant from Kuwait last Monday,” the source told Reuters.

Oil-exporting Gulf countries have stepped in to prop up the ailing Egyptian economy since the army overthrew Mursi, of the Muslim Brotherhood, in July 2013.

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