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Egypt receives $315m in financing for infrastructure projects
- Egypt: Sunday, November 18 - 2012 at 01:49
The European Investment Bank (EIB) has agreed to provide €245m ($315m) financing to infrastructure projects in Egypt. The bank is to loan €200m ($255m) as a tranche of a €600m ($765m) loan for the extension of the Cairo Metro, with an additional €45m ($58m) allocated to help a community development programme. The programme includes projects aimed at supporting community development, primarily in urban areas, including basic infrastructure and housing improvement. The Cairo Metro expansion project involves the construction of 17.7km of new track and 15 stations. The project is being co-financed by the Agence Française de Développement (AfD).
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