Nasr, China EximBank vice president sign memo

Investment and International Cooperation Minister Sahar Nasr and Vice President of Export-Import Bank of China (China EximBank) Xie Ping signed on Tuesday a memorandum of understanding on promoting cooperation in bankrolling national development projects.

The memo falls within the framework of buttressing all-out strategic partnership between Cairo and Beijing and gearing up for a prospective visit by President Abdel Fattah El Sisi to China.

The minister said the memo will enhance cooperation with the bank to carry out several development projects within the coming three years.

She underlined the importance of furthering cooperation between the two countries.

She lauded the bank's contribution to financing and implementing several national development projects in various sectors, including electricity, transport and ports.

The talks tackled means of fostering cooperation in a number of sectors, especially electricity and the electric train project.

Meanwhile, Xie underlined the depth of Egyptian-Chinese relations.

The bank will work under the memo on securing funds for implementing social and economic projects in Egypt in the coming period.