EBRD, Transport Ministry near new loan agreement to purchase Cairo Metro Line 2 locomotives

The European Bank for Reconstruction and Development (EBRD) is “finalizing” a new loan agreement with the Transport Ministry to finance the purchase of six new locomotives for Cairo Metro Line 2, EBRD Managing Director for the Southern and Eastern Mediterranean Janet Heckman says. Heckman did not disclose the size of the funding package. The ministry had been expected to sign last month a EUR 600 mn loan agreement with the EBRD, the European Investment Bank, and the French Development Agency to finance the infrastructure of Cairo Metro Line 1. The EBRD plans to invest EUR 1.5 bn in Egypt this year, Heckman had previously said.