Banque Misr signs USD 100 mn financing agreement with China’s Industrial and Commercial Bank

Banque Misr signed a USD 100 mn financing agreement with China’s Industrial and Commercial Bank (ICBC) for a project led by Huawei, Amwal Al Ghad reports. Banque Misr had previously signed an agreement with ICBC and the China Export and Credit Insurance Corporation to provide up to USD 500 mn in funding for Egypt-based projects implemented by Chinese companies. The Egyptian bank is also expected to sign a USD 500 mn loan agreement with the Chinese Development Bank, Daily News Egypt reports.