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Tuesday, 27 September 2016

Amer travels to Germany, meets with officials to discuss cooperation

CBE Governor Tarek Amer travelled to Frankfurt, Germany yesterday to “strengthen monetary cooperation” between Egypt and Germany, Al Masry Al Youm reported. The paper did not provide specific details about the visit, but said Amer will meet with Bundesbank President Jens Weidmann along with other officials. Talk is already circulating in the domestic press that Amer is in Germany for “USD 10 bn pledged at the EEDC to build new power grid infrastructure with Siemens,” where he will reportedly negotiate for better terms. Siemens’ power plants in Beni Suef, Burullus and New Capital have already received USD 3.5 bn in funding from 17 banks arranged by Deutsche Bank, HSBC and KfW IPEX-Bank.

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