Cairo - Mubasher: The European Bank for Reconstruction and Development (EBRD) has reached a EUR 205 million agreement with Egyptian National Authority for Tunnels (NAT) to support the partial rehabilitation of Cairo Metro.
The funds will finance urgent works on Line 1, the oldest of the subway system that is used by 500 million customers per year.
Investments will increase the line’s capacity by 40% by reducing waiting times, 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, EBRD said in a statement on Wednesday.
The EBRD loan will be complemented by a EUR 350 million loan provided by the European Investment Bank (EIB) and a €50 million loan from the French development agency (AFC).
