Egyptian parliament approves JPY 41 bln loan agreement for Cairo Metro's 4th line

Ahram Online , Thursday 13 Apr 2023

The Egyptian House of Representatives approved on Tuesday a 41 billion yen ($307.68 million) concessional loan agreement with Japan to implement the first phase of the fourth line of the Cairo Metro, according to the Middle East News Agency (MENA).

Egyptian parliament.
Egyptian parliament. (Ahram Online).


Signed in December 2022, the agreement stipulates that the loan from the Japan International Cooperation Agency (JICA) will have an annual interest rate of 0.1 percent, a 10-year grace period and a repayment period of 30 years.

The planned fourth line will extend for 19 kilometres and includes 16 stations. This line will connect the downtown Cairo area with the Pyramids of Giza and the Grand Egyptian Museum to meet the growing demand for transportation and reduce traffic congestion.

The first phase will have three underground stations; El-Malek El-Saleh Station, Giza Station, Grand Egyptian Museum Station, and three above-ground stations; Masaken El-Remaya Station, Hadayek Al-Ahram Station, and the final station at the intersection of the Ring Road and El-Wahat Road.

The new line will start operating in February 2028, according to a previous statement by JICA.

Furthermore, the house approved an amendment to the United States Agency for International Development's (USAID) comprehensive economic governance agreement with Egypt allocating an additional $19 million.

The agreement aims to make economic governance in Egypt more efficient and sustainable, bolster women's participation in the labour force and support and include marginalised citizens in society.

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