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MOFCOM provides RMB 60 million grant — via ETCA — for unspecified projects (Linked to Record ID#1445)
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Central Bank of Egypt |
| Country | Egypt |
| Start Date | Apr 20, 2011 |
| End Date | Jan 27, 2027 |
| Duration | 5,761 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 1443 |
Grant Description
On April 20, 2011, the Chinese Vice Minister of Commerce, Fu Ziying, and Egyptian Assistant Minister of International Cooperation, Nabil Abdel-Hamid, signed an Economic and Technical Cooperation Agreement (ETCA), which committed RMB 60,000,000 of grant funding for unspecified purposes.
The ETCA stipulated that the grant would be allocated at a later date following a formal exchange of letters between the two signatories and that the grant would be disbursed through a bank account established between China Development Bank and the Central Bank of Egypt.
According to the Vice Minister of Commerce, the Chinese Government would offer $1,000,000 to Egypt for emergency evacuation of Egyptian civilians from Libya. However, it was unclear whether the $1,000,000 was included in the RMB 60,000,000 grant or not.
On the same day, China’s Ministry of Commerce also agreed to grant container inspection equipment to the Egyptian government (captured in Record ID#1445).
Sources & References
- 中国无偿援助埃及6000万元人民币
- China Offers $9 Million Aid to Egypt
- China
- Egypt vow to cement traditional ties, الصين ومصر توقعان اتفاقية تعاون اقتصادي وفني(2011/04/21), مرسوم بقانون رقم 114 لسنة 2011 بشأن الموافقة على اتفاق التعاون الاقتصادى والفنى بين حكومتى جمهورية مصر العربية وجمهورية الصين الشعبية, http://www.chinadaily.com.cn/china/2011-04/21/content_12370217.htm, http://news.sohu.com/20110421/n306215962.shtml Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
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Central Bank of Egypt
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