Kuwait delivers free fuel to Egypt: report

Kuwait delivers free fuel to Egypt: report

Egypt has suffered from diesel shortages over the last two years, and the government has recently announced fuel prices hike for some industrial factories. (AFP\Photo)

Kuwait has delivered crude oil and diesel worth $200m to Egypt as part of a $4bn aid package to bolster the latter’s faltering economy
(AFP Photo)

AFP – Kuwait has delivered crude oil and diesel worth $200m to Egypt as part of a $4bn aid package to bolster the latter’s faltering economy, a newspaper reported on Sunday.

Two tankers, one carrying around 100,000 tonnes of diesel and the other 1.1m barrels of crude, have docked in Egypt, Al-Rai reported, citing Kuwaiti oil sources.

The emirate announced on Wednesday that it would provide $4bn in urgent aid to Egypt, half a deposit in the Central Bank of Egypt, and the remainder made up of a grant of $1bn and $1bn in free oil and oil products.

Neighbouring Saudi Arabia and the United Arab Emirates have pledged $5bn and $3bn respectively, bringing the total promised by Gulf Arab states since the Egyptian army ousted former president Mohamed Morsi earlier this month to $12bn.

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