When the world gets closer.

We help you see farther.

Sign up to our expressly international daily newsletter.

Egypt

Egypt And China Expand Economic Partnership

Egypt and China made billions worth of energy and infrastructure deals during al-Sisi's recent visit to Beijing, another sign of growing economic and political ties between the two countries.

Abdel Fattah al-Sisi, Xi Jinping and his wife Peng Liyuan in Beijing on Sept. 3
Abdel Fattah al-Sisi, Xi Jinping and his wife Peng Liyuan in Beijing on Sept. 3

CAIRO — Egyptian President Abdel Fattah al-Sisi's second trip to China in less than a year came during his weeklong tour of Asia in early September, a trip aimed at expanding economic cooperation with countries in the region. And that he did, especially with China.

During the Beijing meetings, Egypt approved a package that includes the equivalent of $6.3 billion in deals — for energy projects, small business loans and a memorandum of understanding for the construction of Egypt's new capital city.

The energy cooperation includes a $2 billion project in which the Chinese company Sinohydro would build a 2,100-megawatt hydropower dam near Egypt's Mount Ataka, a project that was announced in March.

In addition, Chinese companies signed a deal to build a $3.8 billion, 4,000-megawatt coal-fired power plant, according to the state-owned news outlet Al-Ahram. Plans for Chinese companies to build coal-power stations in Egypt were first announced during Sisi's previous state visit to China in December 2014.

Al-Ahram also reported that Chinese companies would be involved in a $600 million project to develop an electricity network to transfer power from new power plants being constructed by German firm Siemens, as well as to transmit electricity from the proposed nuclear power plant at Dabaa. China will finance 85% of the project, to be repaid over 15 years with a proposed 2.5% interest rate.


On the infrastructure side, Egypt's investment minister signed a memorandum of understanding with the mammoth state-owned China State Construction Engineering Corporation to develop part of Egypt's new administrative capital. The project, called The Capital Cairo, was announced at the Egypt Economic Development Conference held in Sharm el-Sheikh in March. It was presented as a $45 billion project to build a 700-square-kilometer city from scratch in the desert.

Emirati firm Capital City Partners had signed a memorandum of understanding to construct the project, but talks reportedly broke down in June, leaving Egypt searching for a new partner.

Sisi also presided over the signing of a $100 million soft loan from the China Development Bank to support small- and medium-sized enterprises in Egypt.

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

Geopolitics

How Ukraine Keeps Getting The West To Flip On Arms Supplies

The open debate on weapon deliveries to Ukraine is highly unusual, but Kyiv has figured out how to use the public moral suasion — and patience — to repeatedly shift the question in its favor. But will it work now for fighter jets?

Photo of a sunset over the USS Nimitz with a man guiding fighter jets ready for takeoff

U.S fighter jets ready for takeoff on the USS Nimitz

Pierre Haski

-Analysis-

PARIS — In what other war have arms deliveries been negotiated so openly in the public sphere?

On Monday, a journalist asked Joe Biden if he plans on supplying F-16 fighter jets to Ukraine. He answered “No”. A few hours later, the same question was asked to Emmanuel Macron, about French fighter jets. Macron did not rule it out.

Stay up-to-date with the latest on the Russia-Ukraine war, with our exclusive international coverage.

Sign up to our free daily newsletter.

Visiting Paris on Tuesday, Ukrainian Defense Minister Oleksïï Reznikov recalled that a year ago, the United States had refused him ground-air Stinger missiles deliveries. Eleven months later, Washington is delivering heavy tanks, in addition to everything else. The 'no' of yesterday is the green light of tomorrow: this is the lesson that the very pragmatic minister seemed to learn.

Keep reading...Show less

You've reached your limit of free articles.

To read the full story, start your free trial today.

Get unlimited access. Cancel anytime.

Exclusive coverage from the world's top sources, in English for the first time.

Insights from the widest range of perspectives, languages and countries.

The latest