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English news

24-Jan-2016

Egypt, China sign 21 investment deals to foster mutual cooperation

Egyptian President Abdel-Fattah El-Sisi and Chinese President Xi Jinping signed in Cairo on Thursday a number of cooperation, Egypt's state TV reported. The official broadcasted footage shows the two leaders witnessing the signing of 21 technical and economic deals including one to build a new administrative capital and another to develop an industrial and commercial hub around Egypt's Suez Canal. The deals-- in the power generation and civil aviation sectors are worth USD15 billion, according to Egyptian Minister of International Cooperation Sahar Nasr. They also include a USD1 billion financing agreement for the Egyptian central bank and a USD700 million loan to the state-owned National Bank of Egypt. (Reuters, ahramonline)

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