Turkey to allocate $2 bln for Egypt’s economic development

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Turkey and Egypt agree on a 2 billion dollar financial package
Turkish Deputy Prime Minister Ali Babacan met with Essam al-Haddad, Deputy President of Egypt for External Relations and International Cooperation, in Istanbul on Saturday.
The meeting was closed to press.
Officials said that Turkey and Egypt agreed on a financial package of 2 billion U.S. dollars that would be provided by Turkey to assist the Egyptian economy.
The two parties discussed developments in both countries, commercial relations and investment opportunities in the meeting.

Anadolu Agency

 

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Egypt: Turkey to Provide $2 Billion in Aid - WSJ.com

Egypt's budget deficit in the fiscal year that began July 1 could exceed $20 billion, or about 8% of the country's gross domestic product.