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Egypt, EIB ink €1.1 bn finance agreement to support transport sector - Economy - Business

Egypt, EIB ink €1.1 bn finance agreement to support transport sector - Economy - Business
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European Union (via Public) / Egypt: The EU Bank supports urban transport

Egypt: The EU Bank supports urban transport
EUR 1.128 billion of financing to invest in metro and tram systems in Cairo and Alexandria
The first tranche of EUR 600 million is signed
The Urban Transport schemes will contribute to reduce emissions in the two large cities
The European Investment Bank (EIB), and the
Egypt have signed a EUR 1.128 billion agreement to support investments in the rehabilitation and expansion of metro and tram systems in Alexandria and Cairo. The EIB financing will contribute to increase the availability and improve the quality of public transport systems in the two cities where 30-35% of the country s population live and work. This new operation is in line with the EU Bank s climate action objectives and comes in support of the government s national priorities. ....

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