EUR 3 mn EBRD grant gets the presidential seal of approval

Something else we’re keeping our eye on this morning: President Abdel Fattah El Sisi has ratified a EUR 3.05 mn grant from the European Bank for Reconstruction and Development (EBRD) to finance the development of Cairo Metro Line 1, according to the Official Gazette (pdf). The cabinet greenlit the loan in November, which comes two years after the EBRD lent us EUR 205 mn to finance renovation works on Cairo Metro Line 1.