EIB signs €122.7m loan agreement with Egypt
The EIB has signed three financing agreements with Egypt amounting to €122.7 million ($138.77 million). The first agreement, worth €120 million, will finance the expansion and development of the western sewerage treatment plant in Alexandria. The investment is set to increase the plant's capacity, contribute to the purification of Lake Mariout and the Mediterranean Sea, provide an additional water source, and bolster activities for local fisheries, agriculture, and tourism.
The second, a €1.5 million facility, will fund a supplementary study to modernise the Tanta–Mansoura–Damietta railway. The study will focus on ensuring that the project meets international standards of best practise and will contribute to the wider development of freight and passenger transport in the country.
The third is a cooperation agreement for preparing a feasibility study into the rehabilitation of the Cairo Metro’s second line – which totals €1.2 million. This renovation is expected to extend the line's life expectancy by 25 years, as well as increasing transport capacity.
