Cairo – Mubasher: The European Investment Bank (EIB) has expressed its readiness to finance the upgrades to the Cairo metro lines 1 and 2, the Ministry of Transport said Thursday.
The EIB is willing to provide EUR 180 million (EGP 3.77 billion) in funds for the first line and EUR 75 million (EGP 1.57 billion) for the second, the ministry said.
Transport minister Hesham Arafat has convened with delegations from the EIB and World Bank separately to discuss means of cooperation in the transport sector, the statement added.
The EIB and Arafat also discussed the third metro line, in which the EIB has already contributed EUR 600 million (EGP 12.58 billion).
The rehabilitation of the first line tops the ministry’s priorities, the statement said, indicating that the process includes raising efficiency, which will be carried out on two stages, in addition to infrastructure and systems.
