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Egypt receives $250m Kuwaiti grant to upgrade Banha-Zagazig railway
- Egypt: Wednesday, May 01 - 2013 at 05:33
The Egyptian Railway Authority (ERA) is set to receive a $250m grant from the Kuwait Fund for Arab Economic Development (KFED) and the Arab Fund for Economic and Social Development (AFESD) to fund an electronic traffic signal project along the railway from Banha to Zagazig, Daily News Egypt has reported. The KFED will supply $100m of the loan, with the AFESD providing the remaining $150m. An international tender open to a number of consulting agencies is also set to be floated soon, said the director of the International Loans Project at the ERA, Samir Farag.
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