$500 million for US - Egyptian projects in Africa

A group of US and Egyptian businessmen, have agreed to implement several projects in Africa with mutual investments within the fields of basic infrastructure, the head of US trade chamber in Cairo, Ahmed Shawki, said.

Shawki also said these projects would be operated on the B.O.T system (build-operate-transfer) in Nigeria, the Ivory Coast, and other African countries, to benefit of Egypt's membership in the COMESA gathering, which grants Egyptian businessmen and registered projects in Egypt several privileges in taxes and financing, in addition to dealing with national companies in case of presenting African projects raised up on the B.O.T system.