Cairo – Mubasher: Egypt will sign the final contract with the European Investment Bank (EIB) for getting an EUR 350 million credit facility, a source familiar with the matter said.
The facility will be used for the development and upgrade of the Cairo’s Metro Line 1, Enterprise reported, citing the source.
The agreement is set to be signed on the sidelines of President Abdel Fattah El Sisi’s visit to the Austrian capital Vienna.
By obtaining this facility, the Egyptian government aims to enhance the provided services through the underground line and sustain these service in the long-term.
Last Thursday, the government agreed to obtain a credit facility for the development of the first line of Cairo's Metro.
