The Industrial and Commercial Bank of China (ICBC) is set to provide Egypt with USD20bn in financing over the next 10 years, ICBC’s Africa General Manager Ivy Tsai said during a meeting with Egyptian Minister of International Cooperation, Sahar Nasr. The financing will be geared towards large-scale projects such as the New Administrative Capital, the USD8.6bn Hamrawein “clean coal” power plant, a phosphate complex, and a Huawei-run smart city. The funding will be part of a wider USD35bn financing programme for projects in Africa. (Al Masry Al Youm)