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FINANCIAL NEWS
Egypt, China sign strategic partnership agreement
03 Sep 2015
(MENAFN) Egypt’s President paid a visit to China as part of his Asian tour to increase Chinese investments in Egypt, which is predicted to have a great impact on the bilateral economic relation.
The two presidents held talks, which led to the signing of a Comprehensive Strategic Partnership Agreement and a cooperation deal that will boost production capacity, state news agency MENA reported.
The two presidents agreed on many projects in the power, transportation and ports sectors, with the Egyptian president also pushing to finish the paperwork and feasibility studies to put these projects into action.
A USD100 million loan from the Chinese Development Bank (CDB) is expected to be secured, to provide the small- and medium-sized Egyptian projects with the necessary funds.
“It is an important visit that followed Al-Sisi’s first visit to China by less than 10 months, which indicates strengthening the relations between the two countries,” political researcher said.
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