Cairo – Mubasher: Egypt and China concluded on Thursday an agreement, under which Egypt’s central bank will receive $1 billion worth of financing during 2016-2018, according to state-run TV.
The agreement was signed by Central Bank of Egypt’s (CBE) Governor Tarek Amer.
National Bank of Egypt also signed a financing deal worth $700 million with China.
Banque Misr concluded a $100 million loan from China’s development bank.
China’s ambassador to Cairo was previously cited as saying his country would inject $1 billion as a deposit in Egypt’s central bank.
Meanwhile, Chinese President Xi Jinping started on Wednesday a two-day visit to Egypt, during which he will meet Egyptian President Abdel Fattah El-Sisi to discuss bilateral ties and regional issues.
