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MOFCOM provides RMB 150 million grant — via ETCA — for unspecified projects
| Funder | China Ministry of Commerce |
|---|---|
| Recipient Organization | Central Bank of Egypt |
| Country | Egypt |
| Start Date | Mar 09, 2014 |
| End Date | Dec 05, 2030 |
| Duration | 6,115 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 72451 |
Grant Description
According to Egyptian Presidential Decision no. 128 (2014), the Chinese Ambassador to Egypt, Song Aiguo, and the Egyptian Minister of Investment and International Cooperation, Dr.
Ashraf Al Araby, signed an Economic and Technical Cooperation Agreement (ETCA) on March 9, 2014, 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 Bank of China and the Central Bank of Egypt. The agreement was signed in Cairo in Arabic, Chinese, and English.
Then, on April 14, 2014, Egyptian Presidential Decision no. 128 (2014) ratified the ETCA into Egyptian law.
Sources & References
宋爱国大使与埃及国际合作部长签署两国经济技术合作文件, قرار رئيس جمهورية مصر العربية رقم 128 لسنة 2014 بشأن الموافقة على اتفاقية التعاون الاقتصادى والفنى بين حكومتى جمهورية مصر العربية وجمهورية الصين الشعبية، الموقعة فى القاهرة » 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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