Chinese Industrial Bank to invest $20bn in Egypt

Cairo - Mubasher: The Industrial and Commercial Bank of China plans to increase investments in Egypt by $20 billion within the next 10 years, according to the bank’s general manager for Africa Ivy Tsai.

Tsai said during a meeting with the Egyptian minister of investment and international cooperation, Sahar Nasr, that the investments will be pumped through a number of projects financed by the bank that include the New Administrative Capital, according to a statement.

Egypt is the gate to the African continent, the Africa general manager indicated.

Tsai also invited Nasr to attend the Silk Road Summit, which will be held in China next May.

Mubasher Contribution Time: 22-Feb-2017 21:37 (GMT)
Mubasher Last Update Time: 23-Feb-2017 06:58 (GMT)