Cairo - Mubasher: China has promised to offer $1 billion loan to the Central Bank of Egypt (CBE) during the Chinese president’s visit to Egypt, scheduled for next week, according to the Egyptian Ambassador in Beijing.
Ambassador Magdi Amer also stated that another loan agreement worth $700 million, will be signed with the National Bank of Egypt to finance future projects.
Meanwhile, another loan deal amounts to $100 million will be signed with Misr Banque to finance small and medium-sized enterprises (SMEs).
Chinese President Xi Jinping will visit Egypt on Wednesday in the first visit of its kind in 12 years.
