King Khalid of Saudi Arabia flew home Cairo airport on Sunday (20 July) at the end of his five-day official visit to Egypt.
King Khalid of Saudi Arabia flew home Cairo airport on Sunday (20 July) at the end of his five-day official visit to Egypt. Before leaving Egypt the King announced that he had pledged a new 600-million dollars (250 m. pounds sterling) loan to Egypt, and had given his support to President Sadat's decision not to renew the United Nation's peace-keeping mandate in Sinai. He is also believed to have given secret pledges of continued financial support to strength Egypt's armed forces.
Although Saudi Arabia is the principal financier of the Arab war effort against Israel, the amount it provides to the front-line countries -- chiefly Egypt -- has never been disclosed. The new 600 million dollar loan was revealed in a joint communique, and it will consist mainly of credit facilities to Egypt's Central Bank aimed at consolidating the strained Egyptian economy. King Khalid also agreed to contribute an undisclosed sum to a public housing project in the Cairo industrial suburb of Helwan.
The joint communique said that the King and the President had reached "complete understanding in their talks". It also said that King Khalid supported the Egyptian action over the U.N.'s peace-keeping mandate "because of Israel's stalling and its clear determination not to respond to all genuine Arab efforts to achieve peace in the area".
One of the most important of those efforts, said the communique, was President Sadat's decision to reopen the Suez Canal on 5 June -- eight years to the day after it was closed by 1967 Middle East war.
This unqualified support for President Sadat has strengthened the President's hand in dealing with the United Nations and the United States, which he is urging to put pressure on israel.