EIB to facilitate funding for the overhaul of Cairo metro’s first and second lines

The European Investment Bank (EIB) is interested in facilitating funding for the Transport Ministry’s planned overhaul of the Cairo Metro Line 1 and 2, a delegation of EIB representatives told Transport Minister Hisham Arafat during a meeting in Cairo on Wednesday, Al Borsa reports. The EIB has provided around EUR 600 mn in funding for the development of the Cairo Metro Line 3 and has also made an offer to chip in for the renovation of the Alexandria tram which received funding from the French Development Agency, the newspaper adds.