Metro train in Cairo - FILE
CAIRO - 17 September 2020: Egypt's official Gazette published Thursday a presidential decree approving an agreement between Egypt and the European Investment Bank (EIB) to develop the second line of Cairo Metro.
This come after President Abdel Fattah al-Sisi issued a presidential decree approving the cooperation agreement with the EIB, which is set to conduct a feasibility study on the rehabilitation of the second line.
The agreement was signed, in January 2020, between the National Authority For Tunnels and the EIB.
This agreement comes in the framework of Egypt's efforts to rehabilitate and renovate Cairo metro. In June, the Minister of International Cooperation Rania Al-Mashat announced the signature of an agreement with the Agence Française de Développement (AFD) to finance rehabilitation works of the 1st Metro Line worth €50 million.
In August, the government announced plans to invest LE3.5 billion in FY2020/2021 in the construction works of the first phase of the fourth metro line, which will serve 1.35 million passengers and 2.5 million after the accomplishment of the second phase.