Agreement signed for EBRD to contribute in funding Egypt's Abou Kir electric metro

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Sun, 06 Mar 2022 - 01:40 GMT

BY

Sun, 06 Mar 2022 - 01:40 GMT

EBRD logo- Reuters

EBRD logo- Reuters

CAIRO – 6 March 2022: The Ministry of Transport and the European Bank for Reconstruction and Development (EBRD) signed Saturday an agreement for the latter to take part in the funding of the transformation of Alexandria's Abou Kir diesel-fuelled rail line into an electric metro.

 

As such, the share of each of Egypt's international partners in the project will be as following: EBRD (€250 million); European Investment Bank (€750 million); French Development Agency (€250 million); and the Asian Infrastructure Investment Bank (€200 million).  

 

The line will be the first metro operating in a governorate other than Greater Cairo. Its first phase is planned to stretch over 21.7 kilometers between Abou Kir district and Misr Train Station. As for the second and third phases, they will extend to the districts of Agami and Borg Al Arab, respectively.

 

When accomplished, the line will be linked with those of the high-speed electric train for passengers to be able to reach Alamain and Matrouh in the west, and Ain Sokhna in the East.

 

Abou Kir metro will not be the only electric train in the governorate as El Raml Tramway will also be revamped to be environment-friendly, and better serve users.

 

The signing took place during the ceremony held Sunday to launch the 2022/2027 Country Strategy between Egypt and the EBRD. The event was attended by EBRD's vice president for policy and partnerships, and the ministers of foreign affairs, international cooperation, electricity, tourism, trade and industry, petroleum, and environment.  

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