Egypt’s President Abdel-Fattah El-Sisi has issued a decree approving a framework agreement with China, according to which Beijing will offer a soft loan to Cairo with a total value not exceeding 4.604 million yuan (around $674,000).

The agreement was signed in Beijing on 1 September 2018 and passed by the House of the Representatives on 15 January 2019. 

The loan will be given through the Export-Import Bank of China to the Egyptian Ministry of Transport, represented by the National Authority for Tunnels, to be used in implementing a railway project in 10th of Ramadan City. 

The decree was published in the official state gazette on Thursday.