Egypt eyes doubling currency swap with China, boosting financial ties
Updated 3/15/2026 8:49:00 AM
Arab Finance: Egypt and China mull ways to reinforce bilateral relations, including the existing currency swap agreement, as per a statement.
In his call with Chinese Foreign Minister Wang Yi, Minister of Foreign Affairs Badr Abdelattyi signaled Egypt's interest in doubling the value of its currency swap agreement with China.
Touching upon Egypt's issuance of $500 million in Chinese bonds, Abdelattyi unveiled that the government is looking forward to increasing its value in the future.
He further highlighted Egypt's interest in reinforcing cooperation with the China Development Bank to secure additional foreign currency.
Abdelattyi also expressed the country's interest in attracting more Chinese investments in the industrial sector to help localize industries and transmit technology, while lauding investments in the Suez Canal Economic Zone (SCZONE).
In November 2025, former Minister of Investment and Foreign Trade Hassan El-Khatib noted that more than 2,800 Chinese companies are operating in Egypt, with investments exceeding $8 billion across various sectors.
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