Egyptian President approves €1.88bn loan for monorail lines

Egyptian President Abdel Fattah al-Sisi approved a €1.88 billion loan agreement to finance the construction of two monorail lines.

The agreement was signed on 13 August 2020 by the National Authority for Tunnels (NAT), JP Morgan Europe Limited, JPMorgan Chase Bank N.A., London Branch, and other financial institutions.

The loan will finance the construction, operation, and maintenance of two monorail lines in the Sixth of October City and the New Administrative Capital over 15 years.