Egypt likely to sign US$ 200 mn grant deal with China

Posted on 21st December 2015

Egypt is likely to sign a $200-million grant deal with China next month during the latter president’s visit to Cairo, a report said.

The grant will be targeted at investments in infrastructure, healthcare and Suez Canal development projects, Sahar Nasr, Minister of International Cooperation, was quoted as saying in ahramonline report, which cited state news agency MENA, according to Tradearabia news report.

Chinese President Xi Jinping announced earlier this month $60 billion of financial aid comprising grants and loans for Africa, the report said.

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