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#Belt and Road Initiative

The Central Bank of Egypt (CBE) announced on Tuesday 31 October, that it secured CNY 7 billion (USD 956.61 million) from the state-run China Development Bank (CDB) under a loan agreement. The loan aims to enhance economic, trade, and financial cooperation between China and Egypt, and support the Belt and Road Initiative and the Egypt Vision 2030. It is also meant to finance projects that were agreed upon at the China-Africa Cooperation Forum in 2021. The agreement was signed at…