Finance

Egypt gets €2.7mln EIB support for railway projects

Wednesday, 12 February 2020 09:45
Egypt gets €2.7mln EIB support for railway projects

(Ecofin Agency) - The European Investment Bank (EIB) is providing a total of €2.7 million to support two railway projects in Egypt. Related agreements were signed with the Egyptian National Tunnels Authority (NAT) and the Ministry of International Cooperation.

The first project, the rehabilitation of Cairo Metro Line 2, will receive €1.2 million. Backed by the Economic Resilience Initiative Fund (ERI), it covers technical assistance for the feasibility study and the renovation of the rolling stock.

Also supported by the ERI fund, the second project concerns feasibility study works (including an environmental and social impact study) of the Tanta - El Mansoura - Damietta rail project. It includes the rehabilitation of 118 km of the Tanta - El Mansoura - Damietta railway line, the doubling of the El Mansoura - Damietta section, which currently covers 65 km, and the re-signaling of line and stations. A freight yard and a cargo link to the port of Damietta are also being studied.

The Egyptian government expects this project to improve the safety, availability and reliability of the line crossing the Nile Delta.

Romuald Ngueyap



 
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