Source: The Tahrir Institute for Middle East Policy
Author(s): TIMEP
Original Link: https://timep.org/reports-briefings/timep-brief-chinas-role-in-egypts-economy/
Since Egypt signed a multi-year 12.5 billion USD loan with the IMF in 2016, its government has dedicated its efforts to implementing wide-ranging economic reforms. These have included measures such as slashing subsidies, reforming tax structure, and removing currency controls, along with wide-ranging efforts to attract foreign investment. In this climate, China has injected between 16 and 20 billion USD into the Egyptian economy in the form of loans, investments, and development projects. These funds have been primarily invested in the infrastructure, energy, and telecommunications sectors, dedicated to projects such as the development of the Suez Canal Economic Zone, a light rail transit system connecting the new capital to cities outside of Cairo, and solar power stations near Aswan.
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