Egypt signed on Tuesday a $301 million loan agreement with Japan as the second tranche of a development financing to fund the first phase of Metro’s Fourth line in Cairo, the Ministry of International Cooperation said.
This second tranche will be used to support the implementation of the first phase of the 4th line of the Greater Cairo Metro.
The new line extends for 19 km and includes 16 stations and will connect the downtown Cairo area with the Pyramids of Giza and the Grand Egyptian Museum to meet the growing demand for transportation and reduce traffic congestion.
Egypt received the first tranche of concessional development financing worth nearly $245 million in 2012.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.