Arab Today, arab today ebrd upgrades public transport in egypt
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

EBRD upgrades public transport in Egypt

Arab Today, arab today

Arab Today, arab today EBRD upgrades public transport in Egypt

EBRD
London - Arab Today

Millions of commuters in Cairo will benefit from a €100 million loan provided by the European Bank for Reconstruction and Development (EBRD) to the Egyptian National Authority for Tunnels (NAT) for the procurement of 13 new trains.

These will be operated on Line 2 of the Cairo Metro under a supply and maintenance contract and will improve the daily journeys of commuters, the bank said in a press release.

The EBRD funds will help to alleviate traffic congestion in Cairo, increasing the capacity of Metro Line 2 by approximately 23 per cent. Furthermore, as part of the project, an on-site training program for unemployed young people will be organized to enhance their skills.

Hildegard Gacek, EBRD Managing Director for the southern and eastern Mediterranean (SEMED) region, said: “We are very proud to contribute to the development of a priority sector in Egypt. The development of the Metro network has a large impact on people’s lives and their businesses and consequently on the country’s economy. In addition, the investment will provide much-needed on-the-job training opportunities.”

Funded by the EU Neighborhood Investment Facility, the German Federal Ministry for Economic Affairs and Energy, the SEMED Multi-Donor Account and the EBRD Shareholder Special Fund, technical cooperation activities will accompany the various phases of the project.

The loan is being provided under the EBRD’s new Integrated Approach for the Cairo Urban Transport Sector. This approach aims to improve public transport services in Cairo and the surrounding areas through investment and reform. The EBRD will promote greater sustainability and efficiency of Metro services while ensuring the procurement of an environmentally friendly fleet. In addition to investments in the Metro, the Bank will also work with the Egyptian authorities to increase private sector participation in urban transport.

To date, the EBRD has invested more than €1.4 billion in Egypt in 30 projects (including regional ones) since it started working in the country at the end of 2012. The Bank’s investments include the natural resources sector, the financial sector, agribusiness, manufacturing and services as well as infrastructure projects such as power, municipal water and wastewater and contributions to the upgrade of transport services.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ebrd upgrades public transport in egypt Arab Today, arab today ebrd upgrades public transport in egypt

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ebrd upgrades public transport in egypt Arab Today, arab today ebrd upgrades public transport in egypt

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: اقتصاد عربي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday