The European Bank for Reconstruction and Development (EBRD) is supporting the launch of an inter-city electric bus fleet in Egypt through a €10.6 million loan to Go Bus for Transport, the country’s first privately owned inter-city bus company. The loan will benefit from 10 per cent first-loss risk cover provided by the European Union (EU) through its European Fund for Sustainable Development Plus (EFSD+) initiative under the Municipal Infrastructure and Industrial Resilience guarantee programme.

Through this loan, Go Bus will expand its operations and renew its fleet by acquiring up to 30 new buses for its inter-city services, as well as six electric micro-buses for shorter routes and three other electric vehicles for intra-city journeys. Introducing electric vehicles will provide a cleaner, more sustainable alternative, easing congestion and reducing emissions, with strong potential for replication across Egypt’s governorates. The loan will be accompanied by a comprehensive technical cooperation package financed through the EBRD’s Southern and Eastern Mediterranean Multi-Donor Account covering legal aspects of the project.

In addition to that technical cooperation, a grant will be provided under the EU’s EFSD+ Municipal, Infrastructure and Industrial Resilience programme to support corporate governance. The project will include training opportunities for new fleet drivers, equipping them to prevent and respond to gender-based violence and harassment. This will help to address safety risks in Egypt’s transport system, with a UN study having found that more than 86 per cent of women reported feeling unsafe while using the country’s public transport.

The loan agreement was signed by the EBRD’s Head of Sustainable Infrastructure for the Middle East and Africa, Aida Sitdikova, and the Chairman of Go Bus, Fady Nassif. The transaction was initiated and completed under the leadership of Sameh Atalla, the CEO of the Go Bus Group, in line with the company’s sustainability agenda, to advance green mobility and electric vehicles.