Is bike sharing coming to Cairo? The UN Human Settlement Programme signed an agreement with the Cairo governorate to introduce a bike-sharing scheme in the nation’s capital, Egypt Independent reports. The Drosos Foundation is providing USD 1.5 mn in financing for the project. The project, named Bicicletta, will introduce 300 bicycles and create several “bike-sharing stations” across the downtown Cairo. Drosos says UN Habitat is also building “bike lanes in the catchment area of Cairo University. Additionally, the partner will select and enable a local social enterprise to manage and operate the bike-sharing model, ensuring high quality services.”
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Egypt’s funds crossed EGP 500 bn in 3Q on retail money and a stalling core
Money market funds stalled while retail piled into equity, index,…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…