Egypt signs World Bank $330 million loan to upgrade rail network

Egypt’s ministry of transport has recently signed a $300 million loan agreement with the World Bank geared towards modernising signalling and upgrading track on 763 km of Egypt’s 5,000 km rail network.

The loan will be repaid over 20 years at interest rates as low as 1 percent, with a grace period of five years, official sources with knowledge of the loan talks told Amwal Al Ghad on Thursday.

The project will focus on modernising the signaling for the Cairo – Giza – Beni Suef segment of the Egyptian National Railways (ENR) network and supporting the reforms needed to enhance ENR’s performance and competitiveness.