Mubasher: Banque Misr signed a $500 million agreement with the China Export and Credit Insurance Corporation (SINOSURE) to fund foreign trade.
Vice chairman, Akef Al Maghraby, added that the bank also inked a memorandum of understanding with China's Industrial and Commercial Bank of China (ICBC) for a $500 million loan.
The loan aims at boosting dollar liquidity to meet the needs to finance joint Egyptian-Chinese projects, Al Maghraby noted.
Moreover, the bank announced that it has received a permission from the People's Bank of China to open a representing office in China.
