Posted inBeijing, China, Egypt, Middle East, World

Egypt getting a shot in the arm from Chinese banks

Chinese Development Bank (CDB) and Industrial and Commercial Bank of China (ICBC) have signed a series of deals with Egyptian state-owned lender Banque Misr, reports Global Trade Review. CDB will provide an eight-year US$500 million loan to finance “strategic projects.” The deal follows CDB’s five-year US$100 million financing deal with the Egyptian bank agreed to last […]