Egyptian President Abdel Fattah El Sisi issued on May 9 a decree approving a framework agreement with China, under which Beijing will offer a soft loan not exceeding CNY 4.604 mn (around EGP 11.415 mn) to Cairo, MENA news agency reports.

To be given through the Export-Import Bank of China to Egypt’s Ministry of Transport, represented by the National Authority for Tunnels, the loan will be utilized in implementing a railway project in 10th of Ramadan City.

The deal was previously signed in Beijing on September 1, 2018, and passed by the House of the Representatives on January 15 of this year.

Meanwhile, on May 5, El Sisi inaugurated a total of 12 mega national projects, connecting Sinai to the Nile Delta, a step which comes under the country’s pursued Sinai Peninsula development project.