The Export-import Bank of China(Eximbank) is making a $16.3 million loan to Egypt to refurbish polyester production, according to an agreement signed by Eximbank Chairman Mr.Li Ruogu and Egyptian Minister of Investment Mahmoud Mohieldin on Nov.20 in Cairo.

Signing Ceremony

The loan will be used to upgrade the polyester factory and will be repaid over 20 years, at 2 per cent interest after a grace period of five years.

Formal Talk between Eximbank & Egyptian side

H.E. Ambassador Wu Sike and Minister Counselor Cui Mingmo attended the signing ceremony.