Egypt, EIB Sign Agreement to Fund 3 Transport ProjectsSource: www.export-egypt.com 12/29/2020, Location: Africa |
|
|
|
|
|
International Cooperation Minister Rania el Mashat and Flavia Palanza, the Director of Operations in EU Neighboring Countries at the European Investment Bank (EIB), have signed an agreement worth 1.1 billion euros to fund a plan to improve the urban transport infrastructure across Egypt.
The funding will cover three projects: one to turn the Abu Qir train tracks into a metro line extending over 22 kilometers, another to renovate the 13km tram line in Raml district of Alexandria, and a third to restore the 23km second metro line. The three projects are meant to upgrade the transport infrastructure for Egypt to have a sustainable system. Mashat hailed as “strategic” the partnership between Egypt and the EIB, which is meant to support the 2030 national development agenda. Indeed, the partnership with the EIB has resulted in the implementation of several projects that supported social and economic development and helped create jobs for youth, Mashaat said. She put at about 10.6 billion euros the total value of EIB funding in Egypt. The EIB is expected, through its Economic Resilience Initiative, to provide grants with the aim to technically assist the implementation of the three projects, the minister said. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
