IsDB approves US$345 e-train project in Egypt

IsDB approves US$345 e-train project in Egypt

Islamic Development Bank (IsDB) has approved US$345 million to finance the first phase of of the electric express train project in Egypt.

The approval came during the IsDB’s board meeting held on April 1 in the city of Jeddah.

The project was being implemented to provide access to safe, affordable, accessible and sustainable transport systems for all by developing a 660km sustainable, green, and climate-resilient electric express railway system.

The US$345-electric train project is to benefit 25 million indivduals, and reduce green house gas missions by approx. 250,000 tons of CO2 annually.

The IsDB has approved projects worth $403 million in its member countries such as Egypt, Kyrgyzstan and Tajikistan to help boost the country’s infrastructure.

The  projects’ main goal is to  support socio-economic development and promote sustainability in member countries in key sectors such as energy, education, and transport , IsDB President and Group Chairman, Muhammad Al Jasser said.

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