MOFCOM provides RMB 150 million grant — via ETCA — for unspecified projects (Linked to Record ID#30426)

According to Egyptian Presidential Decree no. 262 (2012), the Chinese Government and the Government of Egypt signed an Economic and Technical Cooperation Agreement (ETCA) on August 28, 2012, which committed RMB 150,000,000 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. The agreement was signed by Egypt's Minister of Investment and International Cooperation, Dr.

Ashraf Al-Arabi, and China's Deputy Minister of Commerce, Gao Hucheng in Beijing. Chinese President Hu Jintao and Egyptian President Mohammed Morsi also witnessed the signature of the agreement.

According to the Egyptian Ministry of Trade and Industry, the Government of Egypt expected to allocate the grant proceeds to infrastructure projects, power plant construction projects, and environmental projects. However, AidData has not identified any information about the disbursement of the RMB 150,000,000 grant.

On the same day, six other agreements were signed by the Chinese Government and the Government of Egypt.