The Ministry of International Co-operation and the European Bank for Reconstruction & Development has signed a memorandum of understanding for the Heliopolis - New Cairo Tramway project in Egypt.

The pre-feasibility study evaluated the practicality of PPP alternatives for the Heliopolis to New Cairo tram project with regard to institutional, financial, and contractual aspects. It advised a PPP alternative that involved transferring operational risks and making availability payments. 

The Heliopolis tramway between Ramses station and the Almaza district of Cairo, which is currently out of use, is set to undergo a planned rehabilitation worth US$ 500 million.