Egypt, EIB sign agreement to support metro's 1st line by €350M

CAIRO – 19 December 2018: Egypt and European Investment Bank (EIB) signed an agreement worth €350 million to support the development and renewal process of Cairo Metro’s first line, Egypt’s Ministry of Investment and International Cooperation announced.

The ministry noted that the agreement was signed by Minister Sahar Nasr and President of the EIB Werner Hoyer.



According to the ministry, the agreement aims at the rehabilitation of the metro’s first line, including 44 kilometers comprising 35 stations, to work on the metro's sustainable service and expand its transporting capacity.

The development and renewal process includes the signaling, communication, electromechanical, central control systems and power supply.

Earlier this month, EIB announced signing three agreements worth $227.797 million to support business in Egypt; two financing agreements for a total amount of €229 million ($260.497 million) to support sanitation and community infrastructure in Egypt and the third is an agreement to invest $ 11.3 million in Sawari Ventures Fund.

EIB signs 3 agreements worth $227.8M to support businesses in Egypt

CAIRO - 10December 2018: The European Investment Bank (EIB) announced signing three agreements worth $227.797 million to support business in Egypt. EIB clarified that it signed two financing agreements for a total amount of €229 million ($260.497 million) to support sanitation and community infrastructure in Egypt.