Egypt gears up to host Barcelona Convention COP24 on Mediterranean Pollution in December    Egypt to host 3rd Global Conference on Population, Health and Human Development in November    Egypt to host inaugural AI Everything Middle East & Africa Summit in February 2026    Norway's wealth fund investments in Israel dominate election, could decide government    Egypt's military production, petroleum ministries drive projects to boost citizens' economic gains    Egypt implements EGP 12.7bn water, wastewater projects in Northwest Coast in 2024    Egypt backs UN plan for Libyan elections within 12-18 months    South Korea's Lee in Japan for talks ahead of crucial Trump meeting    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



CI Capital, CIB to partner with China Development Bank
Published in Daily News Egypt on 20 - 04 - 2011

CAIRO: Investment bank CI Capital and Commercial International Bank will develop a partnership with China Development Bank that includes international syndicated loans for investment projects, according to a statement.
The memorandum of understanding signed between the two Egyptian entities and one of the top five banks in China will also entail cooperation on infrastructure projects, namely under the public private partnerships (PPP) schemes.
The partnership will offer investment banking services through deal origination, assisting in structuring and in raising equity and debt components for projects, the statement read.
The agreement between CI Capital, CIB and CDB will also include information sharing on project financing and trading finance, as well as project appraisals; as well as cooperation on projects related to the SME sector.
In its daily market report, investment bank Beltone Financial said, “We expect that the partnership would be more on the investment banking, rather than the commercial banking side of the business.”
Fu Ziying, China's vice minister of commerce, was in attendance at the MOU signing, which was penned by Qingdong ZHU, president of CDB West Asian and North African section and the Chief Representative of CDB Cairo; Essam Elwakil, CEO and board member of CIB, and Karim Helal, Group CEO CI Capital.
CI Capital said this follows similar initiatives concluded in Singapore, Korea, Turkey and Hong Kong; and is in line with CI Capital and CIB's aim to expand “in markets that are of interest to their client base and where there are opportunities and interest to attract foreign investments and [joint ventures] in Egypt.”
“This alliance is a clear indication of CI Capital and CIB's ‘Look East' initiative undertaken nearly two years ago to position itself as a dual gateway for the East,” the statement read.
CDB has issued $250 billion in loans to more than 4,000 projects in the past decade involving infrastructure, communications, transportation and basic industries. By the end of 2010, its total assets reached $757 billion and net profit was $5.3 billion.
The bank committed $1 billion in funding to support the development of the SME sector in Africa, one of eight new cooperation initiatives with Africa. CDB also expanded its global network by establishing a representative office in Cairo.


Clic here to read the story from its source.