Chinese Government pledges $200 million credit line for Egyptian manufacturers to import from China
Pledged amount
$ 312287020.3
Constant 2017 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Umbrella project
This project is classified as an "umbrella" project, and is connected to related projects.
Summary
Funding agency [Type]
Unspecified Chinese Government Institution [Government Agency]
Recipient
Egypt
Sector
Industry, mining, construction (Code: 320)
Flow type
Export Buyer's Credit
Concessional
Yes
Category
Project lifecycle
Description
On October 29, 2007, Egypt's Trade Ministry announced that the Chinese Government would provide Egyptian firms a $200 million credit line for importing production lines and technology transfers from China. The credit facility would carry a 7-year grace period and an interest rate of no more than 2 percent. It is unknown whether any firms took advantage of the offer. It is also unclear if a credit facility agreement was ever finalized.
Number of official sources
0
Number of unofficial sources
3
Details
Cofinanced
No
Receiving agencies [Type]
Egypt Ministry of Trade and Industry [Government Agency]
Loan type
Concessional
Interest rate
2.0%
Grace period
7 years
Gurarantee provided
No
Insurance provided
No