NBE, Banque Misr provide EGP 1.8bn to develop Ring Road
Egypt’s General Authority for Roads, Bridges and Land Transport signed a protocol on cooperation with the National Bank of Egypt (NBE) Banque Misr for a funding worth 1.8 billion Egyptian pounds.
The funding will be used to develop the Ring Road from Al Mariotia to Autostrad and will be provided over three years.
The total value of funding required to develop the Ring Road amounts to 4.5 billion pounds, the transport minister Kamel El-Wazir said.
NBE will be contributing 1.2 billion pounds to the development of the Ring Road. while, , Banque Misr will provide a total value of 600 million pounds.
