Egypt, France Sign €344m Agreement over 3rd Metro LineSource: www.export-egypt.com 12/15/2014, Location: Africa |
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Minister of International Cooperation Naglaa al-Ahwani and French Ambassador in Cairo Andre Baran signed a €344 million worth loan agreement from the French government to fund the extension of the Cairo third metro line.
Minister of Transport Hani Dahi, Head of the National Authority for Tunnels Ismail Nagdi, the head of the French economic mission in Cairo attended the signing ceremony. Ahwani, for her part, praised the role of the French government in contributing to development projects in Egypt. Half the value of the announced loan will come via the French treasury and be repayable over 53 years with a 20 year grace period. The other part, worth 172 million Euros will be repayable in credit installments to the French Kofax Authority. When complete, Cairo's third metro line will stretch 43.5 kilometers from Cairo airport to Imbaba in Giza. The third phase of the line will be18 km in length and includes 15 stations. |
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