Billion dollar agreement signed with Egypt

ISTANBUL

This hand out picture taken and released by the Turkish Prime minister's press office on September 30, 2012 shows Egypt's President Mohammed Morsi (L) and Turkey's Prime Minister Tayyip Erdogan shaking hands during a press conference in Ankara. AFP Photo

A billion dollar loan agreement between Turkey and Egypt was signed during yesterday’s meeting between Turkish Prime Minister Recep Tayyip Erdoğan and Egypt President Mohamed Morsi, Anatolian news agency reported today.  

Studies for providing an additional one billion dollars are being conducted by Turkey's Eximbank, in an effort to support the export of goods and services from Turkey to Egypt.  

The economic and political relations between the two countries are expected to be strengthened by the latest developments.