| Project Detail |
Project Description
The provision of a sovereign loan of up to EUR 130 million (or USD equivalent) to the Arab Republic of Egypt to finance the rehabilitation of the existing infrastructure of Cairo Metro Line I, which will cover urgent infrastructure investments in signalling, telecoms, controls and track works. It is expected that the project will be co-financed by a sovereign loan of up to EUR 150 million from the European Investment Bank ("EIB") and EUR 50 million from the Agence Francaise de Developpement("AfD").
The project will be implemented by the National Authority for Tunnels ("NAT"), a government agency under the jurisdiction of the Ministry of Transport ("MOT") and will be carefully co-ordinated with the Egyptian Company for Metro ("ECM"), the operator, as the rehabilitation will take place while the line is in operation.
Project Objectives
The Bank has developed an Integrated Approach ("IA") to Cairos urban transport sector which comprises a series of investments across all modes of urban transportation in Greater Cairo focusing on improving functionality, quality and efficiency of public transport services. The objective of the IA is to achieve greater commercialisation of services, enhanced private sector participation, improved regulation, and increased opportunities for on the job training as well as the use of carbon monetisation mechanisms. |
