Saudi Arabia on 20 March pledged more support for its ailing neighbor Egypt, extending a $1.5bn loan to finance development projects on the Sinai Peninsula.

The new aid package from Egypt’s key GCC donor comes under agreements signed at the Egyptian Saudi Coordination Council (ESCC) meeting in Riyadh on 20 March. The $1.5bn Saudi Development Fund loan will finance projects being developed by Egypt’s armed forces in North and South Sinai governorates. (CONTINUED - 314 WORDS)