CDB Completed Full 7 billion Loan to Bank of Egypt to Support TEDA Cooperation Zone and Other Projects
Release time:
2023-11-05 00:00
Source: Beijing News
Author Zhang Xiaoyi
Original title "China Development Bank completes full disbursement of 7 billion yuan loan project with the Central Bank of Egypt"
On October 31, the reporter learned from the China Development Bank that in order to help promote the joint construction of the "Belt and Road" initiative, and actively serve to accelerate the creation of a new era-oriented China-Africa and China-Arab community with a shared future, the bank was on October 30. Successfully completed the full issuance of the 7 billion yuan loan agreement with the Central Bank of Egypt.
The China Development Bank stated that this is a specific measure to implement the cooperation results of the third "Belt and Road" International Cooperation Summit Forum and help promote the "Nine Projects" of the China-Africa Cooperation Forum. It is understood that the 7 billion yuan loan cooperation agreement was signed by the China Development Bank and the Central Bank of Egypt during the third "Belt and Road" International Cooperation Summit Forum, and has been included in the list of practical cooperation projects of the Summit Forum.
As of the end of the third quarter of this year, the China Development Bank has issued more than 6.48 billion U.S. dollars in loans in Egypt. The areas of cooperation include financial cooperation, infrastructure construction, manufacturing, industrial parks, and the development of small and medium-sized enterprises. The National Bank and the Bank of Egypt's special loans for African SMEs, Egypt's 500 kV transmission line project, TEDA Suez Economic and Trade Cooperation Zone and other projects have helped the two sides achieve more development results in financial cooperation.
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