China, Egypt sign $71 million grant deal

Egypt and China have signed Monday a grant of $71 million to establish an Egyptian satellite and training centre for the Suez Canal Economic Zone Authority (SCZone).

Egyptian Minister of International Cooperation Sahar Nasr and China’s ambassador to Cairo, Song Aiguo have signed the grant agreement in Cairo.

The grant aims to finance the launch of the Egyptian satellite Egypt Sat 2 and the General Authority for Suez Canal Economic Zone’s training centre, Minister Nasr told reporters.