The European Bank for Reconstruction and Development (EBRD) has approved the provision of a sovereign loan to Egypt for financing the Alexandria metro project.
The project involves the upgrade of the existing rail line between downtown Alexandria and the north-eastern district of Abu Qir into a high-capacity metro. The loan will be up to EUR250 million (US$283.84 million) and will be directed to the implementation of infrastructure works to modernize and electrify the railway and implement related systems, such as the upgrade of signaling, communication and central control systems, and the provision of new railway cars.
The metro modernization project is consistent with the Bank’s strategy for Egypt, especially with its priorities to improve the quality and sustainability of infrastructure services in the country.
Country updates
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November 16, 2021
AD Ports Group signs MoU for multipurpose terminal in Safaga
Abu Dhabi Ports Group has signed a Memorandum of Understanding (MoU) with the Egyptian Group for Multipurpose Terminals for the development and operation of a multipurpose terminal in Safaga Port. Un...
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November 04, 2021
OPEC Fund and AIIB to fund infrastructure projects in Egypt
The OPEC Fund for International Development and Asian Infrastructure Investment Bank (AIIB) have signed an agreement with the National Bank of Egypt (NBE) for the US$200 million loan. The aim is to su...
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October 19, 2021
Contract signed for 500 MW Onshore wind farm in Egypt
Egyptian Electricity Transmission Company (EETC) has signed an agreement with a consortium for the development of a 500 MW wind project in Ras Ghareb, Egypt. The consortium is formed by Orascom...
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October 08, 2021
Concession signed for Saudi-Egypt grid interconnection PPP
The Governments of Egypt and Saudi Arabia have signed a concession contract with the selected consortium for the development of a grid interconnection project between both countries. The project invo...
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September 30, 2021
Korea Exim invests in Luxor-High Dam railway project in Egypt
Export-Import Bank of Korea (Korea Exim) has announced the support of US$312.25 million for the modernization of the Luxor-High Dam railway in southern Egypt. Economic Development Promotion Facility...
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