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El-Sisi thanks Saudi Arabia and UAE for their support

CAIRO, 15 June 2022, (TON): Egyptian President Abdel Fattah El-Sisi has praised Saudi Arabia and the UAE for their financial assistance in response to the outbreak of the war in Ukraine.

Speaking to the media at the inauguration of a series of dairy production facilities and slaughterhouses in Sadat City, in response to a question about the support provided by the Kingdom and the UAE, the president said “the two Gulf states moved together without a request from Cairo.”

Saudi Arabia announced it would deposit $5 billion with the Central Bank of Egypt to contribute to supporting Cairo’s foreign exchange reserves, after the Egyptian economy was affected by the Russian invasion.

The value of the Egyptian pound has fallen since the outbreak of the war by more than 20 percent, with the country also heavily reliant on grain exports from Ukraine.

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