{"id":558206,"date":"2021-08-01T04:25:14","date_gmt":"2021-08-01T04:25:14","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/more-ebrd-money-for-abu-qir-railway-conversion\/"},"modified":"2021-08-01T04:25:14","modified_gmt":"2021-08-01T04:25:14","slug":"more-ebrd-money-for-abu-qir-railway-conversion","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/more-ebrd-money-for-abu-qir-railway-conversion\/","title":{"rendered":"More EBRD money for Abu Qir railway conversion"},"content":{"rendered":"

<\/a> An extra EUR 250 mn for Abu Qir metro, courtesy of EBRD: <\/strong>The project to convert Alexandria\u2019s Abu Qir railway into an underground metro will be getting an additional EUR 250 mn from the European Bank for Reconstruction and Development, after the bank approved<\/a> a formal loan request submitted by the government last year<\/a>. The loan will go towards upgrading the electrification of the metro line, installing signalling and control systems, and purchasing rolling stock.<\/p>\n

Europe is now covering the bill for more than two-thirds of the project\u2019s EUR 1.6 bn sticker price. <\/strong>The EUR 250 mn in EBRD financing is in addition to EUR 750 mn<\/a> from the European Investment Bank; the remaining financing for the project will come from the French Development Agency and the Asian Infrastructure Investment Bank.<\/p>\n

EBRD has been upping its infrastructure investment in Egypt: <\/strong>Last week<\/a> saw the bank agree to provide USD 29.6 mn to finance half of the development of the Sixth of October Dry Port. A EUR 3.05 mn grant from EBRD for the financing of Cairo Metro Line 1 was greenlit<\/a> by Ittihadiya earlier this year, with the bank having provided<\/a> EUR 205 mn for the line\u2019s renovation two years prior.<\/p>\n","protected":false},"excerpt":{"rendered":"

An extra EUR 250 mn for Abu Qir metro, courtesy of EBRD: The project to convert Alexandria\u2019s Abu Qir railway into an underground metro will be getting an additional EUR 250 mn from the European Bank for Reconstruction and Development, after the bank approved a formal loan request submitted by the government last year. The […]<\/p>\n","protected":false},"author":1,"featured_media":558207,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7278],"tags":[548,571,72,7111,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-abu-qir-fertilizers","tag-ebrd","tag-enterpriseam","tag-infrastructure","tag-transport","wpautop","entry"],"acf":{"mongo_id":"e4f6c39b-3572-4e50-9dd7-9b1c21f444f2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/36.jpg","photo_position":"above","related_issue":[558191],"teaser":"","voice_url":""},"yoast_head":"\nMore EBRD money for Abu Qir railway conversion - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/more-ebrd-money-for-abu-qir-railway-conversion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More EBRD money for Abu Qir railway conversion\" \/>\n<meta property=\"og:description\" content=\"An extra EUR 250 mn for Abu Qir metro, courtesy of EBRD: The project to convert Alexandria\u2019s Abu Qir railway into an underground metro will be getting an additional EUR 250 mn from the European Bank for Reconstruction and Development, after the bank approved a formal loan request submitted by the government last year. 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The European Bank for Reconstruction and Development (EBRD) has received a formal loan request from the government for EUR 250 mn to partially fund a project to convert Alexandria\u2019s Abu Qir railway into an underground metro,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558665,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/","url_meta":{"origin":558206,"position":2},"title":"More EBRD finance for the Cairo Metro?","author":"enterpriseam admin","date":"22 August 2021","format":false,"excerpt":"Egypt could receive an EUR 250 mn loan from the European Bank for Reconstruction and Development (EBRD) to finance upgrades at Cairo Metro Line 2, according to the bank\u2019s website. The finance, which would be used to upgrade existing rolling stock and purchase new locomotives, is still being reviewed by\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/219.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546668,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/24\/mps-greenlight-eur-250-mn-ebrd-alex-metro-loan\/","url_meta":{"origin":558206,"position":3},"title":"MPs greenlight EUR 250 mn EBRD Alex metro loan","author":"enterpriseam admin","date":"24 May 2022","format":false,"excerpt":"EBRD Alex metro loan gets House approval: MPs have approved a EUR 250 mn loan from the European Bank for Reconstruction and Development (EBRD) to finance the conversion of the Abu Qir railway into an electrified metro line, Al Shorouk reports. The Transport Ministry signed the final agreement with the\u2026","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559445,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/premium-international-closes-egp-170-mn-securitized-bond-issuance\/","url_meta":{"origin":558206,"position":4},"title":"Premium International closes EGP 170 mn securitized bond issuance","author":"enterpriseam admin","date":"21 January 2021","format":false,"excerpt":"Consumer finance firm Premium International closed the fourth single-tranche EGP 170 mn tranche of its EGP 2 bn short-term securitized bond program yesterday, according to a statement (pdf) from our friends at EFG Hermes, which was sole financial advisor, sole transaction manager and book-runner, underwriter, and arranger for the sale.\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591748,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/16\/world-bank-ebrd-to-lend-egypt-usd-1-bn-for-new-alexandria-metro-line\/","url_meta":{"origin":558206,"position":5},"title":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line","author":"enterpriseam admin","date":"16 December 2019","format":false,"excerpt":"World Bank, EBRD to lend Egypt USD 1 bn for new Alexandria metro line: The World Bank and the European Bank for Reconstruction and Development have agreed to provide a USD 1 bn loan to partially finance the project to convert Alexandria\u2019s Abu Qir railway into an underground metro, sources\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558206"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558206\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558207"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558206"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558206"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}