Arab Finance: The Export-Import Bank of China (Chexim) will provide Egypt with a new loan worth $400 million to finance the construction works of the Light Rail Transit (LRT) project’s third phase, Asharq Business reported on September 27th, citing three unnamed sources familiar with the matter.

The third phase of the LRT project extends over 20.4 kilometers covering four stations.

The loan is expected to get Egypt’s Parliament approval in early 2024.

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