Today, Sunday, the Saudi Ministry of Finance announced that the Kingdom has provided a deposit of $3 billion to the Egyptian Bank.
The ministry explained in a press statement that the Kingdom “is one of the main countries that supported the foreign reserves of needy countries during the pandemic,” noting that it “recently provided a deposit of $3 billion to the Central Bank of Egypt, in addition to extending previous deposits of $2.3 billion.”
The ministry stated that the external facilities recently provided by Saudi Arabia are equivalent to about 70% of the special drawing rights that were recently allocated to the Kingdom from the International Monetary Fund.
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