Egypt, EBRD to sign new financing deal this month

Egypt and the European Bank for Reconstruction and Development (EBRD) will sign later this month a new financing deal to purchase new locomotives and trains.

The deal will finance the purchase of 100 new locomotives and six trains as part of the EBRD’s strategy to support the modernisation of the Egyptian railway system.

The railway sector plays a significant role in the Egyptian economy and is an essential mode of transport for low-income Egyptians.