Saudi Arabia has announced that it vows to support Egypt's economy in terms of oil assistance and $8 billion in other investments in the country.

Saudi Arabia's Deputy Crown Prince and Defense Minister, Mohammed bin Salman (photo), declared this in Cairo on Tuesday. He affirms that King Salman has sanctioned $8 billion in investments, contributing to Egypt's necessities for oil for a minimum of five years as well as support for traffic in the Suez Canal by Saudi ships.

According to AP News, Saudi Arabia has supported the country with billions of dollars in terms of aid, grants and cash deposits to help lift the country's economy following years of political turmoil which sent foreign reserves stumbling.