Last Update 11:44
Wednesday, 13 November 2019

Egypt's parliament endorses €205 mln loan deal with EBRD to upgrade Cairo Metro's first line

MENA , Tuesday 22 Oct 2019
Cairo metro
File Photo: Cairo metro first line (Photo: reuters)
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The House of Representatives approved Monday during its plenary session a €205 million loan agreement to upgrade the first line of the Cairo Metro.

During its session, the parliament reviewed a report prepared by the parliament's transport and economic affairs committees on Presidential Decree No. 485/2019 approving the loan agreement, which was signed with the European Bank for Reconstruction and Development (EBRD) in August 2018.

The transport committee stressed the urgent need to pass the loan agreement to get the funds necessary for improving, repairing and overhauling the line infrastructure to upgrade the network services, mitigate traffic congestion and reduce pollution. 

The first line, which runs from Helwan in south Cairo to El-Marg in the northeast of the city, is the oldest line in the 32-year-old system.

 

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