The Industrial and Commercial Bank of China plans to increase investments in Egypt by $20 billion within the next 10 years, according to the bank's general manager, Ivy Tsai.
Tsai said during a meeting with the Egyptian minister of Investment and International Cooperation, Sahar Nasr, that the investments will be pumped through a number of projects financed by the bank that include the new administrative capital, according to a statement.
Egypt is the gate to the African continent in which the bank aims to raise investments by $50 billion, the general manager indicated.
Tsai also invited Nasr to attend the Silk Road summit, which will be held in China next May.
Mubasher
23 February
