African Development Bank joins consortium to fund Egypt’s new capital monorail

Egypt is in talks with a banking consortium comprised of the African Development Bank, the European Investment Bank, and the European Bank for Reconstruction and Development to provide funding for the USD 2.2 bn monorail linking Nasr City to the new administrative capital, Transport Minister Kamel El Wazir tells Al Mal. The African Development Bank has recently joined the consortium, replacing an unnamed British bank that dropped out from the group.