An Egyptian MP praised on Thursday the Chinese International Commercial Bank (ICB) pumping of $20 billion for investments in Egypt as an awareness of Egypt’s great economic value.
An ICB delegation headed by Effie Tsai، general manager of the bank for the continent of Africa، met Minister of Investment and International Cooperation، Sahar Nasr، on Wednesday over discussing bilateral ties.
Tsai l also held meetings with a number of ministers and government officials over increasing cooperation between both countries.
The bank، one of the largest banks in the world، has pumped investments of 20 billion dollars in the Egyptian market، according to Nasr.
Nasr confirmed to the visiting delegation that the Egyptian government encourages investment through providing an attractive climate and overcoming all the obstacles facing investors.
Recently، Egypt has taken strict economic measures to back its stumbling economy including liberalizing the rate of the local currency against foreign currencies as well as lifting the fuel subsidies.
It also received a $ 12 billion loan from the International Monetary Fund to overcome its economic crisis.