China offers cheap loans

02 November 2007
The Chinese government has extended $200 million in credit to Egyptian companies to finance capital goods imports from China.

The facility is being offered for the purchase of Chinese production lines and to promote technology transfer from China to Egypt. It will have a grace period of seven years and an interest rate below 2 per cent to encourage trade. The Egyptian government says it hopes to extend it to $1,000 million.

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