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Investment Ministry signs MoU with China Exim Bank to support development projects - Daily News Egypt

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Investment Ministry signs MoU with China Exim Bank to support development projects

The agreement aims to finance and implement projects in the transport and electricity sectors: Nasr


Minister of Investment and International Cooperation Sahar Nasr and Xie Ping, vice president of the Export–Import Bank of China (China Exim Bank), signed a memorandum of understanding (MoU) that aims to strengthen the relationship and cooperation between the ministry and the China Exim Bank in the fields of funding national investments.

This comes in the framework of strengthening the comprehensive strategic relations between Egypt and China and preparing for the next visit of President Abdel Fattah Al-Sisi to China.

Additionally, Nasr stated that the agreement between the ministry and the China Exim Bank will finance implementing projects and investments over the next three years.

Nasr pointed out the importance of activating and developing existing cooperation frameworks with China, as well as enhancing future cooperation between the two countries.

Moreover, she praised the contributions of the China Exim Bank in the financing and implementation of several national development projects in various sectors, including electricity, transportation, and ports, which are in line with the development strategy and economic and social development programmes and plans in Egypt.

Meanwhile, the two sides discussed enhancing cooperation in a number of sectors, especially the electricity sector and supporting the electrified train project.

The vice president of China Exim Bank stressed upon the depth of Egyptian-Chinese relations, pointing out his country’s aspiration to promote economic relations on a permanent basis, adding that the agreement comes within the framework of enhancing bilateral cooperation between the Ministry of Investment and the bank.

The bank will work on providing any financial resources required for the implementation of projects that serve the objectives of economic and social development in Egypt during the next phase.

Nevertheless, Nasr pointed out the importance of enhancing the areas of cooperation, advancing Egyptian-Chinese relations, and the need to provide funds for the development plans through implementing projects throughout the republic.

Xie Ping expressed his appreciation and thanked Nasr for her continuous efforts in promoting joint cooperation between the two countries.

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