China Offers $25m Grant to Egypt’s Development ProjectsSource: www.export-egypt.com 3/9/2014, Location: Africa |
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Egypt and China signed on Sunday two agreements for technical and economic cooperation worth 25 million dollars.
As per the first agreement, China will offer a non-refundable grant of 150 million yuan (equivalent to 25 million dollars) to Egypt to finance development projects. The grant is part of the 450-million-yuan assistance China promised to offer to Egypt over three years that will end in 2014. Egypt's Planning and International Cooperation Minister Ashraf el-Arabi and Chinese Ambassador to Egypt Song Aiguo inked the deals. The second agreement provides for sending Chinese experts to Egypt for cooperation in anti-desertification domain |
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