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The European Bank for Reconstruction and Development (EBRD) has agreed to provide a €205m loan to support the partial refurbishment of Cairo Metro Line 1, one of the main transport systems in the Egyptian capital.
The rehabilitation programme will receive an additional €350m loan from the European Investment Bank and another €50m loan from French development agency Agence Française de Développement.
Funds will be used to carry out urgent upgrade works on Cairo Metro Line 1, which is used by nearly 500 million passengers annually.
“EBRD will provide the loan under its integrated approach for the Cairo urban transport network to enhance public transport services in the city and the surrounding regions.”
Travelling through the Egyptian capital from the north to the south, the line stretches 42.5km and comprises 33 stations.
Rehabilitation work aims to enhance safety and services along the line. It will also help in increasing the line’s capacity by 40% and boosting the frequency of operations from the existing 3.5-minute interval to 2.5 minutes.
Additionally, metro line operator ECM intends to use the funding to introduce an enterprise resource planning system, an asset-management and cost-accounting module to increase efficiency and overall performance.
The Cairo Metro comprises three lines, while the fourth is currently under construction.
Overall, it carries more than 2.4 million passengers daily serving as a key transportation system of the city.
EBRD will provide the loan under its integrated approach for the Cairo urban transport network to enhance public transport services in the city and the surrounding regions.
To date, EBRD has invested more than €4bn in 84 projects across Egypt in various sectors, including agribusiness, financial services, and infrastructure projects.
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