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EBRD to provide Transport Ministry with EUR 250m for the Alexandria metro project

by WAYA Staff - Mar 6, 2022
EBRD to provide Transport Ministry with EUR 250m for the Alexandria metro project

The European Bank for Reconstruction and Development (EBRD) has agreed to finance the Alexandria metro project, which will see it provide the Transport Ministry with EUR 250m to transform the Abu Qir railway into an electrified metro line. 

The EBRD and the Transport Ministry signed the agreement yesterday during the launch event for the lender’s new 2022-2027 Egypt strategy, which will continue to see it support economic growth and its transition towards a greener economy.

The EBRD will assess Egypt’s potential to build a hydrogen industry, as well as support skills in the local tourism industry, after signing separate MOUs with the oil and tourism ministries.

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