September 5, 2018 / 7:23 PM / a year ago

Egypt's NBE signs $600 mln loan deal with China Development Bank

CAIRO, Sept 5 (Reuters) - State-run National Bank of Egypt (NBE) said on Wednesday it had signed a $600 million loan agreement with the China Development Bank.

It said in a statement the loan deal was signed in Beijing on Tuesday “to finance the working capital of NBE customers”, without elaborating.

NBE received a $700 million loan from the China Development Bank to finance infrastructure projects in 2016.

Egypt is trying to spur economic growth after a 2011 uprising ushered in political instability that scared off tourists and foreign investors. (Reporting by Ehab Farouk; Writing by John Davison; Editing by Mark Potter)

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