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Tunnels authority wants more financing for Cairo Metro Line 4: The National Tunnels Authority (NTA) is looking to secure an EGP 17 bn loan from a consortium of local banks, led by Banque Misr and the National Bank of Egypt, to fund the construction of the Cairo Metro Line 4, Asharq Business reported, citing three sources with knowledge of the matter. The authority is looking to finish up the necessary paperwork in 1Q 2024 for disbursement to start in April.

Refresher: The first, 19-km phase of the fourth line will connect Cairo, Giza and Sixth of October City. It is expected to take six years to complete. The second, 23.5-km phase, will connect to New Cairo. The project is being financed by a JPY loan provided by the Japanese International Corporation Agency (JICA).

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