Egypt, banks in China discuss loans to implement projects

During his visit to Bejin, Egypt’s minister of housing held a meeting on Tuesday the officials of The Export-Import Bank of China (Exim Bank) and Industrial and Commercial Bank of China (ICBC) to discuss the financial conditions to implement the Chinese projects in Egypt.

Furthermore, Moutafa Madbouli discussed with ICBC the loan the bank would provide for the projects to be implemented by China State Construction Engineering Corporation CSCEC in Egypt namely the new administrative capital City. They agreed that the loan procedures will be applied within three months.

On the other hand the meeting with Exim Bank tackled a soft loan to carry out number of water sanitation projects in Upper Egypt agreeing that the feasability studies would be ready and delivered as soon as possible