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AFD discusses funding third Cairo Metro line - Daily News Egypt

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AFD discusses funding third Cairo Metro line

The French development finance institution meets with transport minister to discuss further contributions to urban transport


France’s Development Finance Institution (DFI) Agence Francaise de Développement (AFD) was in discussions on Sunday with Transportation Minister Hatem Abdel Latif to fund the third Cairo Metro line, at an estimated cost of €940m (AFP Photo)
France’s Development Finance Institution (DFI) Agence Francaise de Développement (AFD) was in discussions on Sunday with Transportation Minister Hatem Abdel Latif to fund the third Cairo Metro line, at an estimated cost of €940m
(AFP Photo)

France’s Development Finance Institution (DFI) Agence Francaise de Développement (AFD) was in discussions on Sunday with Transportation Minister Hatem Abdel Latif to fund the third Cairo Metro line, at an estimated cost of €940m, in addition to the planning of the project’s fourth stage, with other transport projects also discussed.

The AFD have stated their intent to help fund Greater Cairo’s urban transportation system via a series of grants and logistical aid packages provided to various authorities.

Projects include a new Nile transportation system, a tram running from Heliopolis to New Cairo, and a university based transportation system running from Cairo University to 6th of October city.

Muhammad Al-Agrudi, Aide to Egypt’s Transportation Minister, stated that AFD CEO Dov Zerah was “enthusiastic to begin working and cooperating with French experts to provide logistical support to help develop Greater Cairo’s transportation system”. He added that the AFD would train the new rail line employees in France, at no cost to Egypt or the governorate of Cairo. Details regarding the establishment of the fourth phase of the third line would be released soon, he said.

Regarding plans to develop a similar transportation system in Alexandria, a committee tasked with implementing the project recently granted the project to French company EGIS Rail. A meeting was held on Monday between EGIS and AFD officials granting EGIS the right to develop the rail line in Alexandria.

Abdel Latif also recently met with Italy’s Ambassador to Egypt, Maurizio Massari, to discuss plans to fund a high-speed rail line from Cairo to Aswan, in addition to cooperation efforts between the two countries to train Egyptian railway employees.

In order to fund the third phase of Cairo’s third rail line, AFD obtained a €940m loan from the European Bank for Reconstruction and Development (EBRD), in addition to presenting a €1m loan to Egypt’s Public Transportation Authority (PTA) to pay for worker training, maintenance operations, and the modernisation of Egypt’s public transportation garages to a more environmentally-friendly framework. All projects will be conducted in cooperation with the Egyptian Environmental Affairs Agency (EEAA).

 

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https://www.dailynewsegypt.com/2013/04/15/afd-discusses-funding-third-cairo-metro-line/
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