KEXIM delegation, visiting Egypt from May 28 till June 3, aims at holding negotiations with Egyptian bodies concerned to fund a project on the upgrade of the railway signals at Luxor-Aswan line in addition to funding other future projects in accordance with priorities set by the Egyptian government.

Mashat, on her part, welcomed the Korean bank delegation, praising the level of Egyptian-Korean relations which has crystallized in choosing Egypt as a strategic partner in the South Korean government's development plans for the period of 2021-2025.

She pointed out that the coming phase would witness launching rounds of negotiations on partnerships between the two sides over the coming five years.

The minister also noted that the state is seeking to enhance its economic relations with multilateral development partners through various economic diplomacy initiatives.

The portfolio of development funding between Egypt and South Korea is estimated at $ 473 million covering various sectors including higher education, training, transport and information technology among others.