Public Management

China pledges support for development projects in Egypt

China pledges support for development projects in Egypt
Thursday, 11 November 2021 17:07

Egypt and China reached a new agreement to reinforce their collaboration. The deal will see China finance many development projects in the African country.

Targeted projects include the Egyptian satellite project "Misr Sat II”, and the Satellite Assembly, Integration and Test Center (AITC). The partners will also establish a vocational training center in the Suez Canal Authority Economic Zone, and other projects are ongoing to develop the transportation sector. Egypt seeks to strengthen “sustainable infrastructure and to develop smart transportation projects.”

This new agreement aims to support the country’s development agenda, which is also in line with the United Nations Sustainable Development Goals. According to Rania Al-Machat, the Minister of International Cooperation, her country plans to expand cooperation with China in “the localization of the railway industry, increase local manufacturing, and climate financing.”

Overall, China has already invested about $1.8 billion in the health, agriculture, education, technical education, and electricity sectors in Egypt. In addition, more than 4,000 government officials and 300 executives have benefited from about 1,110 training programs in sectors such as health, agriculture, and water resources over the past four years.

Jean-Marc Gogbeu, intern

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Senegal, BOAD launch Fovas to monetize public infrastructure assets Fund aims to boost financing without IMF-recommended debt restructuring Eligible...
PIC raises its commitment to Enko Impact Credit Fund, reaching 86.7% of its target. The fund provides dollar-denominated private credit to mid-sized...
IFC grants a $30 million senior loan to boost SME lending in Mauritania. At least 25% of the funds will support women-owned or women-led...
S&P upgrades Zambia to CCC+ as debt talks advance and copper output rebounds. About 94% of $13.3 billion targeted for restructuring is now...
Most Read
01

(MCB) - The Mauritius Commercial Bank Limited (“MCB”) has successfully granted a strategic financing...

MCB deploys strategic financing to Invictus Investment to scale up its agro-food operations in Africa
02

MTN Innovation Lab hosts Africa HealthTech Export 2025 Bootcamp in Cotonou Event targets s...

Africa HealthTech Bootcamp Opens in Benin With Focus on Regulation and Startup Growth
03

Public Eye claims over 90% of Cerelac samples in Africa contain added sugar, averaging 6 g per por...

Nestlé Faces New Claims of Excess Sugar in African Baby Cereals
04

Attack risks internet disruptions; investigation launched near Massakory EU-funded project aims ...

Chad Reports Second Vandalism Attack on Key Internet Cable in Two Weeks
05

China says Premier Li Qiang will attend instead of President Xi Jinping The U.S. and Russia also ...

South Africa Loses More Support as Xi Jinping Also Skips the G20 Summit
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.