CAIRO (Reuters) - China and Egypt will sign 21 deals on Thursday including a $1 billion financing agreement with Egypt’s central bank and a $700 million loan deal with the state-owned National Bank of Egypt.
Ministers from the two countries began signing the agreements, many of them memorandums of understanding, at a meeting in Cairo during a visit by Chinese President Xi Jinping.
The deals span a raft of infrastructure investments including an agreement between Egypt’s Housing Ministry and a Chinese developer to work on the first phase of a new Egyptian administrative capital.
Reporting by Ali Abdelaty and Lin Noueihed, Editing by Ahmed Aboulenein
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