Egypt: EIB welcomes successful completion of Cairo Metro Line 3

July 4, 2022
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European Investment Bank Vice President Gelsomina Vigliotti joined Egyptian leaders and international financing institutions at the formal inauguration of the new Cairo Metro Line 3 at Adly Mansour Station.

The European Investment Bank, the world’s largest international public bank, provided EUR 600 million for construction of Cairo Metro Line 3 and the project is the largest single transport project backed by the EIB in Africa.

“The European Investment Bank is the European Union’s long-term lending institution. This week’s visit will be an opportunity to discuss the reforms and economic conditions for even closer cooperation between Egypt and Europe,” said Christian Berger, Ambassador and Head of the European Union Delegation to Egypt.

The project is also backed by EUR 300 million financing from Agence Française de Développement (AFD) and EUR 43 million grant support from the European Union.

Cairo Metro Line 3 will improve urban mobility and reduce traffic congestion for the more than 20 million people living in Cairo. Improving Cairo’s transport network will contribute to more sustainable and green economic growth and urban development in Egypt.

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Countries covered:

  • Egypt