Egypt, China in advanced talks over $100-$120mln debt swap agreement: Official
- Date: 26-Dec-2023
- Source: Zawya
- Sector:Financial Services
- Country:Egypt
Egypt, China in advanced talks over $100-$120mln debt swap agreement: Official
Egypt is currently in advanced talks with China on a debt swap agreement worth $100 to $120 million, a government official told Al Arabiya Business.
The debt swap entails the cancellation of part of Egypt’s foreign debt in exchange for local investment in green projects early 2024, the official noted.
Earlier in October, Egypt signed a memorandum of understanding (MoU) with China to boost cooperation in the field of debt swapping, with the aim of implementing development projects.
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