Arab Finance: The Egyptian Ministry of International Cooperation has received around $2.4 billion from international multilateral and bilateral development partners over the past two years to support the development of the transport sector in Egypt, according to an official statement on July 3rd.
The development partners are the European Investment Bank (EIB), the French Development Agency (AFD), the European Bank for Reconstruction and Development (EBRD), and the Kuwait Fund for Arab Economic Development (KFAED), along with China.
These financial packages contribute to enhancing Egypt's sustainable infrastructure and the county's vision in transforming into a global trade hub through the development of transportation means, railway networks, and the infrastructure of ports, Minister of International Cooperation Rania Al-Mashat said.
The government has already taken the necessary measures to expand the eco-friendly mass transport in big cities such as Cairo and Alexandria, as well as promote the use of vehicles that run on natural gas in order to reduce air pollution, Al-Mashat highlighted.
Moreover, she pointed out the largest trial project is being implemented in partnership with the World Bank for electric vehicles in Africa through offering 100 electric buses in Cairo.
The minister also mentioned the government’s plans to upgrade the lines of Cairo Metro to become more efficient and eco-friendly means of transport that help in diminishing traffic and reducing harmful emissions.