NBE receives USD700 mn loan from China Development Bank
State-run National Bank of Egypt (NBE) has received a USD700 million loan from the China Development Bank to finance infrastructure projects, NBE told Egypt's state news agency on Thursday. "The amount has entered the bank's treasury in full and will be paid back over 8 years. It will have a grace period of 3 years," Vice Chairman Mahmoud Montaser was quoted as saying. China signed investment and aid deals worth billions of dollars with Egypt during a visit by President Xi Jinping in January. (Reuters)
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