Monorail financing to be clear by end of June

International financial institutions interested in financing the Sixth of October City to Giza and Nasr City to the new administrative capital monorail projects will take a final decision by the end of June, unnamed sources told the local press. The list of institutions includes the International Finance Corporation, the European Bank for Reconstruction and Development (EBRD), and the European Investment Bank (EIB). A consortium comprised of the African Development Bank, EBRD, and EIB has been in negotiations with the government to provide funding for the project. Consulting firms interested in the management, design, and supervision of the project were supposed to have placed their bids at the end of December but no information has so far been forthcoming.