Cairo – Egypt’s President Abdel Fattah al-Sisi on Thursday approved an agreement with the European Investment Bank (EIB), for a EUR 350 million loan.

The loan will be used for the renovation and development of the First Line of Cairo Metro, according to a statement released on the Official Gazette.

In July, the Egyptian transport ministry unveiled plans to finance the monorail project set to be established in the New Administrative Capital.

Source: Mubasher

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