Cairo – Mubasher: Egypt in talks to obtain $2 billion loan from China, said Sahar Nasr, Egyptian Minister of International Cooperation.
Egypt achieved great progress regarding the loan’s negotiations with the Chinese party, added Nasr on the sideline of Euromoney Egypt Conference 2016.
The loan aims to boost the country’s deteriorating foreign reserves that severely declined after the Egyptian revolution of 2011.
Egypt’s foreign reserves declined from $36 billion before 2011 uprising to $16.5 billion by the end of August 2016.
