EIB signs agreement with Egypt for developing urban transport

The European Investment Bank (EIB) has signed a EUR 1.128 billion agreement to support investments in the rehabilitation and expansion of metro and tram systems in Alexandria and Cairo. According to a press release by the EIB, The EIB financing will support three large-scale projects in the sector. The first investment will support the rehabilitation and extension of the existing 13.8 km long El-Raml tram in Alexandria. The second one will support the rehabilitation and upgrade of an underused 22 km long urban railway in Alexandria into a high frequency metro “Abu Qir Metro”, adding metro stops and improving road safety by removing at grade crossings. The third project will support the rehabilitation of the 23 km long metro line 2 in Cairo that has been in operation for 23 years and requires urgent upgrades of its electrical and mechanical systems. 

Photo Credit : https://commons.wikimedia.org/wiki/File:Egypt.Cairo.Metro.01.jpg