Active Development AidData Chinese Aid

MOFCOM provides RMB 150 million grant — via ETCA — for unspecified projects

¥150M RMB

Funder	China Ministry of Commerce
Recipient Organization	Central Bank of Egypt
Country	Egypt
Start Date	Dec 23, 2014
End Date	Aug 02, 2031
Duration	6,066 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`58739`

Grant Description

According to Egyptian Presidential Decree no. 120 (2015), the Chinese Ministry of Commerce, represented by Minister Gao Hucheng, and the Egyptian Ministry of Investment and International Cooperation, represented by Minister Najla Al-Ahwany, signed an Economic and Technical Cooperation Agreement (ETCA) on December 23, 2014.

The agreement committed RMB 150,000,000 of grant funding for unspecified purposes.

It also 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. The agreement was signed in Beijing in Arabic, Chinese, and English.

Then, on March 19, 2015, Egyptian Presidential Decree no. 120 (2015) approved reception of the grant.

📋 Staff Comments

The signing of the ETCA occurred during Egyptian President Abdul-Fattah Sisi's state visit to China from December 22, 2014 to December 25, 2014.

📚 Sources & References

Economic and Technical Cooperation Agreement between the Governments of the Arab Republic of Egypt and the People's Republic of China, الحكومة توافق على منحة بقيمة 24.3 مليون دولار من الصين لتمويل مشروعات تنموية
Decision of the President of the Arab Republic of Egypt No. 120 of 2015 regarding the approval of the agreement on economic and technical cooperation between the governments of the Arab Republic of Egypt and the People's Republic of China signed in Beijing on 12/23/2014
Decision of the President of the Arab Republic of Egypt No. 120 of 2015 regarding the approval of the agreement on economic and technical cooperation between the governments of the Arab Republic of Egypt and the People's Republic of China signed in Beijing on 12/23/2014
Decision of the President of the Arab Republic of Egypt No. 120 of 2015 regarding the approval of the agreement on economic and technical cooperation between the governments of the Arab Republic of Egypt and the People's Republic of China signed in Beijing on 12/23/2014, قرار جمهوري بالموافقة على اتفاقية التعاون الاقتصادي والفني مع الصين, قرار جمهوري بالموافقة على اتفاقية التعاون الاقتصادي والفني مع الصين
China provides Egypt with $24.4m grant
埃及对中国企业投资合作有何保护政策？
中华人民共和国和阿拉伯埃及共和国关于建立全面战略伙伴关系的联合声明 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.

All Grantees

Central Bank of Egypt

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