Egypt, China sign MoU in debt swapping field

Updated 10/19/2023 10:40:00 AM
Egypt, China sign MoU in debt swapping field

Arab Finance: Egypt has signed a memorandum of understanding (MoU) with China to boost cooperation in the field of debt swapping, with the aim of implementing development projects, a statement showed on October 19th.

The MoU was signed by the Egyptian Minister of International Cooperation Rania Al Mashat and Chairman of the China International Development Cooperation Agency (CIDCA) Luo Zhaohui.

As per the agreement, several tranches of the Chinese debts will be used to execute joint development projects.

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