Egypt in talks over $2 bln financing from China

By Yomna Yasser On Sep 19, 2016

Egypt is in talks with China to secure $2 billion in financing, Deputy Finance Minister Ahmed Kojak announced, without giving further details.

“All the details are with the central bank,” he said.

Egypt has reached a staff level agreement for a $12 billion loan programme from the International Monetary Fund (IMF) and must secure around $6 billion in bilateral financing to obtain approval for the programme.

Source: Reuters