A joint venture bank between Egypt's telecom giant and a bank of the Democratic People's Republic of Korea (DPRK) opened here on Tuesday, the official KCNA news agency reported.
The Ora Bank, a joint venture between Orascom Telecom and the DPRK's Foreign Trade Bank, will help boost friendship and future cooperation between the two countries, said O Kwang Chol, president of the Foreign Trade Bank.
Naguib Sawiris, CEO of the Cairo-based Orascom Telecom, said the bank will promote understanding between the two peoples of Egypt and the DPRK and the development of bilateral ties.
The Egyptian company has just launched a 3G mobile network in Pyongyang under a joint venture with the DPRK.
Source:Xinhua
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