Cairo – Mubasher: Egypt and South Korea signed on Thursday five memorandums of understanding, under which Seoul will offer $3.1 billion (EGP 24.5 billion) in financing for development projects.
The signing came on the sidelines of the three-day visit of Egyptian President Abdel Fattah El-Sisi to South Korea, during which he will hold talks with his counterpart President Park Geun-hye.
The agreements were signed by Egypt’s Minister of International Cooperation Sahar Nasr and her South Korean counterpart.
Sahar said the agreements represent a framework for future cooperation at the field of import and export with South Korea.
The minister announced on Monday that Egypt and Japan signed of three soft loans agreements worth $500 million.
