GoBus lands loan to expand and electrify its fleet: Egypt’s first private inter-city bus travel company GoBus secured a EUR 10.6 mn loan from the European Bank for Reconstruction and Development (EBRD) to “expand its operations and renew its fleet,” the lender said on its website. The facility is backed by a 10% first-loss risk cover from the European Union through its European Fund for Sustainable Development Plus (EFSD+).

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Where’s the money going? The fresh funds will finance the purchase of up to 30 new inter-city buses, six electric microbuses for shorter routes, and three other electric vehicles for intra-city journeys. This “will provide a cleaner, more sustainable alternative, easing congestion and reducing emissions, with strong potential for replication across Egypt’s governorates,” the lender said.

Technical assistance and grants: Alongside the loan, the EBRD will offer GoBus a comprehensive technical cooperation package, covering the legal aspects of the project. Also, a grant will be provided under the EU’s EFSD+ Municipal, Infrastructure and Industrial Resilience program to support corporate governance at GoBus.

That’s not all: The project will also fund training for new fleet drivers, focused on preventing and responding to gender-based violence and harassment — an effort aimed at tackling safety risks in Egypt’s transport system. A UN study cited by the EBRD found that more than 86% of women reported feeling unsafe while using public transport, highlighting the need for stronger safeguards.

CORRECTION- The original version of this story said that the 30 new inter-city buses would be electric. A reader in the sector got in contact to tell us this is not the case. We have amended the story to reflect this.

IN OTHER DEBT NEWS-

Ollin closes EGP 2.6 bn securitized bond issuance: GlobalCorp’s consumer and mortgage financing arm, Ollin, has completed a EGP 2.59 bn securitized bond issuance, according to a statement (pdf) from Arab African International Bank (AAIB), which led the issuance.

ADVISORS- AAIB acted as financial advisor, lead arranger, general coordinator, issuance manager, promoter, underwriter, and custodian. The transaction was executed in collaboration with Al Ahly Pharos.

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