The European Bank for Reconstruction and Development (EBRD) finances rehabilitation of Cairo Metro Line 1
August 2, 2018
Millions of commuters will benefit from a €205 million loan provided by the EBRD to support the Egyptian National Authority for Tunnels (NAT) with the partial rehabilitation of Cairo Metro, the major means of public transport in Egypt’s capital.
The funds will finance urgent works on Line 1 – the oldest of the Cairo underground lines – which remains the backbone of the system and is used by 500 million customers per year. Investments will increase the line’s capacity by 40 per cent by reducing headway (the time between trains) from 3.5 minutes to 2.5 minutes, thereby improving levels of safety, comfort and service reliability. The project will also introduce on-the-job training opportunities for young people.
The EBRD loan will be complemented by a €350 million loan provided by the European Investment Bank and a €50 million loan from Agence Française de Développement, the French development agency.