Egypt received $500 mln from Saudi Arabia, first instalment of $2.5 bln grant: minister

CAIRO (Reuters) - Egypt has received $500 million from Saudi Arabia, the first instalment of a $2.5 billion grant that was approved last week, International Cooperation Minister Sahar Nasr said on Wednesday. "Correct," Nasr told Reuters when asked if the $500 million instalment had been paid. She did not reveal when the payment took place. The grant was first agreed in April and is intended to support the Egyptian economy. (Reporting by Ehab Farouk; Writing by Ahmed Aboulenein)