Arab Bank signs EGP 4.2 bln deal to fund Greater Cairo Metro

The Arab Bank signed a 4.2 billion Egyptian pounds co-operation agreement with Orascom Construction Company for implementing the civil works package (CP402) of phase 4 of Greater Cairo Metro project, according to the bank’s statement on Tuesday.

Under the agreement, Orascom will be able to begin the implementation of the fourth phase of the project, which will run underground from Giza to Fustat and connect to existing Lines 1 and 2.

Greater Cairo Metro is one of the most important sustainable green mega transit projects that will have a positive impact on reducing environmental pollution, said Regional Director of Arab Bank Ahmed Ismail Hassan.