China Development Bank sets up shop in Cairo

China Development Bank has opened a branch office in Cairo, according to Egypt’s Al Masry Al Youm. The article suggests the bank will help fund development projects in Egypt and, possibly, Africa. This is the first time I’ve heard of the bank opening a branch in the Arab world. But it is certainly consistent with the growing debate in China about establishing a “Marshall Plan” for the emerging markets. It also underscores the growing role the Middle East is playing as China’s springboard into Africa, either through Cairo or Dubai.