Egypt and Japan fortify bond

In the latest use of the JBIC Facility for African Investment, the Japan Bank of International Cooperation (JBIC) has signed a memorandum of understanding with the government of Egypt.

JBIC and the Egyptian government agreed in the memorandum to cooperate to strengthen economic relations between the two countries, with both parties due to regularly exchange information and opinions that could lead to bilateral projects.

The Egyptian government has recently taken steps to develop oil, natural gas and other resources, as well as improve the country’s transport infrastructure, and the government is stepping up efforts to import machinery and equipment as well as promote foreign investment.