China Grants Egypt $US 71 Million for Satellite Project, Vocational Training Centre

Egyptian Minister of Investments and International Cooperation Sahar Nasr has agreed with Chinese Ambassador on a $US 71 million Chinese grant.

According to a statement by the Ministry of Investments and International Cooperation, $US 64 million of the grant will finance the feasibility studies of the second phase of the second Egyptian Satellite project.

The remaining $US 7 million will be used to establish a vocational training centre at the Suez Canal Economic Zone.

Nasr said that all the common agreements between Egypt and China function as an activation to the cooperation deals signed during the visit of the Chinese President Xi Jinping to Egypt in January 2016.

The cooperation deals are worth about $US 15 billion. She further added that bilateral relations between Egypt and China are rather exceptional; she praised the Chinese government efforts to support the Egyptian economic reform programme.

The Egyptian Minister further highlighted the importance of benefiting from the Chinese experience in space technology and remote sensing fields.