• Thursday, April 25, 2019

Egypt inks $2.6bln loan facility with China’s Exim Bank

Discussion in 'Middle East & Africa' started by beijingwalker, Feb 14, 2019.

  1. beijingwalker

    beijingwalker ELITE MEMBER

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    Egypt inks $2.6bln loan facility with China’s Exim Bank
    The loan will be used to finance a 2,400-megawatt hydroelectric station in Ataqa
    [​IMG]
    By Staff Writer, Mubasher


    Cairo – Egypt’s state-run Egyptian Electricity Holding Co has signed a $2.6 billion loan facility agreement with the Export-Import Bank of China (EXIM), sources at the Egyptian electricity ministry said.

    The loan will be used to finance a 2,400-megawatt hydroelectric station in Ataqa, the sources told Al Borsa News on Tuesday.


    The electricity ministry is expected to reach a final agreement with China’s Sinohydro company that manages the station by June, the sources added.

    In January, Egypt’s National Authority for Tunnels (NAT) had signed a $1.2 billion agreement with China’s Exim Bank to finance a light rail system.

    https://www.zawya.com/mena/en/busin...facility_with_Chinas_Exim_Bank-SNG_137450899/
     
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  2. beijingwalker

    beijingwalker ELITE MEMBER

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    I never heard of this bank.. so in barely a month Egypt took 3.8$ billion from this bank..
     
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  3. oprih

    oprih SENIOR MEMBER

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    Good to see Egypt and China cooperation continue to expand. Meanwhile the jealous turks will post some fake news again.