The European Bank for Reconstruction and Development (EBRD) has approved the loan to finance the rehabilitation of the 2nd Metro Line in Cairo, Egypt.

The sovereign loan is valued at EUR250 million (US$295.4 million) and will be used to finance the upgrade of the existing rolling stock fleet and purchase of new rolling stock. The project will be co-financed with the European Investment Bank (EIB) and the Egyptian government with a total investment package of approximately EUR550 million (US$649.85 million). 

The project involves the upgrade of Cairo Metro Line II with the aim of replacing and developing signaling, safety, power, control, and electromechanical systems and civil works as well as boosting the line’s overall capacity by around 50%.