Chinese Government provides RMB 50 million grant — via ETCA — for Fishery and Aquaculture Center Construction Project and Freedom Experimental School Construction Project (Linked to Record ID#32340 and Record ID#30970)

On November 11, 2006, the Chinese Government and the Government of Egypt signed an Economic and Technical Cooperation Agreement (ETCA), which committed RMB 50 million for the Fishery and Aquaculture Center Construction Project and the Freedom Experimental School Construction Project. This agreement was approved on December 27, 2006 via Egyptian Presidential Resolution no. 445 (2006).

The specific amounts contributed to each project were to be decided at a later date by the parties through the signing of an exchange of letters.

Egyptian Presidential Resolution no. 445 also stipulates that a separate agreement would need to be signed to facilitate the disbursement of the grant from China Development Bank (CDB) to the Central Bank of Egypt.

China’s Ministry of Commerce (MOFCOM) subsequently drew upon the grant proceeds from this ETCA to partially financed the Fishery and Aquaculture Center Construction Project (captured in Record ID#32340) and the Freedom Experimental School Construction Project (captured in Record ID#30970).