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| 06 June, 2018

EBRD agrees to fund part of Cairo’s metro project

The new financial agreement includes the purchase of six trains for the second line of the Cairo metro.

People wait to board a train at El Sadat metro station in the center of Cairo, Egypt May 13, 2018.

People wait to board a train at El Sadat metro station in the center of Cairo, Egypt May 13, 2018.

REUTERS/Amr Abdallah Dalsh

The European Bank for Reconstruction and Development (EBRD) is in the final stages of reaching an agreement with the Egyptian Ministry of Transportation.

The new financial agreement includes the purchase of six trains for the second line of the Cairo metro. Janet Heckman, Managing Director of the EBRD, heighted that the agreement is expected to be finalized in the next couple of weeks, reported Daily News Egypt.

The EBRD launched the public-private partnership (PPP) for six dry port projects at the bank’s headquarters in London early this year, as means to boost the private sector’s investments.

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Its cooperation with the Transportation Ministry is believed to be an appropriate use of the banks’ resources, as it matches the local market’s needs

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