BEIJING – Egypt’s Prime Minister Mostafa Madbouli has attended the signing ceremony of a Memorandum of Understanding to strengthen cooperation between Egypt and China on debt-for-development swap.
The MoU was signed by International Cooperation Minister Rania Mashat and Chairman of the China International Development Cooperation Agency Luo Zhaohui, in the presence of Madbouli, who is in Beijing to partake at the third Belt and Road Forum for International Cooperation (BRF) on behalf of President Abdel Fattah El Sisi.
The MoU aims to foster cooperation between both countries to swap debts for carrying out development projects and achieving sustainable development.
The inking of the MoU reflects both countries’ keenness to open new horizons for cooperation and cement strategic partnership between both sides.
