Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, received a delegation of the Export–Import Bank of Korea (KEXIM) that is visiting Egypt from 28 May to 3 June to negotiate financing various development projects in the transportation sector.
The mission included representatives from the Korean Ministry of Economy and Finance, and the Economic Development Cooperation Fund (EDCF) Evaluation Office of the KEXIM, according to a statement on Monday.
KEXIM’s visit aims to plan meetings with several national authorities, in order to negotiate a number of projects including the modernisation of the Luxor-Aswan railway signalling systems, and to discuss financing future projects that are aligned with state priorities.
El-Mashat applauded the Egyptian-South Korean relations, particularly in light of the announcement that Egypt was selected as a strategic partner for the Republic of Korea’s government in its plans for development cooperation in the region 2021-2025.
The ongoing development cooperation portfolio between Egypt and Korea amounts to $473 million covering various sectors namely higher education, information technology, and transportation.
