Egypt signs €75 million EIB deal for metro line

Egypt has signed Sunday a €75 million ($81.6 million) agreement with the European Investment Bank (EIB) to fund the purchase of thirteen trains for the second metro line.

Egyptian Minister of International Cooperation Sahar Nasr has signed the loan agreement with Dario Scannapieco, Vice-President of EIB, during a ceremony attended by Egyptian Prime Minister Sherif Ismail and Minister of Transportation Galal El-Saeed.

Since operations began in Egypt in 1979, the EU bank has provided over €7.7 billion of financing in the country. Operations in Egypt cover all sectors, including energy, transport, water and industry, as well as support for small and medium-sized enterprises (SMEs) through credit lines and risk capital.

Comments
Loading...