{"id":558665,"date":"2021-08-22T03:55:24","date_gmt":"2021-08-22T03:55:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/"},"modified":"2021-08-22T03:55:24","modified_gmt":"2021-08-22T03:55:24","slug":"more-ebrd-finance-for-the-cairo-metro","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/","title":{"rendered":"More EBRD finance for the Cairo Metro?"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-04\"><\/a> <strong>Egypt could receive an EUR 250 mn <\/strong><strong>loan <\/strong><strong>from the European Bank for <\/strong><strong>Reconstruction and Development (EBRD)<\/strong> to finance upgrades at Cairo Metro Line 2, according to <a href=\"https:\/\/www.ebrd.com\/work-with-us\/projects\/psd\/52385.html\">the bank\u2019s website<\/a>. The finance, which would be used to upgrade existing rolling stock and purchase new locomotives, is still being reviewed by the bank and a decision is expected at the end of October.<\/p>\n<p><strong>The loan is part of a larger package that is expected to reach almost EUR 554 mn<\/strong>, the remainder of which will be financed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/938de63d-cd26-42a8-991e-5deaed5d28a0\">by the European Investment Bank (EIB)<\/a> and the Egyptian government.<\/p>\n<p><strong>The EBRD is already involved in Line 1:<\/strong> The multilateral lender provided <a href=\"https:\/\/enterprise.press\/stories\/2018\/08\/02\/ebrd-provides-eur-205-mn-loan-for-cairo-metro-line-1-rehabilitation\/\">EUR 205 mn to finance work on Line 1<\/a> back in 2018, and followed this up this year with a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f11d749f-3e8f-4e15-af83-52567deccb8d\">EUR 3 mn<\/a> grant. The EBRD is also lending the government <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f6c39b-3572-4e50-9dd7-9b1c21f444f2\">EUR 250 mn<\/a> to part finance the project to convert Alexandria\u2019s Abu Qir railway into an underground metro.<\/p>\n<p><strong>IN OTHER DEVELOPMENT NEWS-<\/strong><\/p>\n<p><strong>Egypt, World Bank discuss development projects:<\/strong> The World Bank\u2019s MENA director for sustainable development was in Cairo last week for talks with International Cooperation Minister Rania Al Mashat to discuss a number of projects being funded by the bank to the tune of USD 5.4 bn, the ministry said in <a href=\"https:\/\/www.facebook.com\/MOICEgypt\/posts\/197147995780440\">a statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 the bank and a decision [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":558666,"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":[7576],"tags":[7097,101,571,72,760,443,207,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-development","tag-development-finance","tag-ebrd","tag-enterpriseam","tag-european-investment-bank","tag-international-cooperation-ministry","tag-transport","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"736a249b-4301-4930-99e9-74b669ef90a6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/219.jpg","photo_position":"above","related_issue":[558655],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>More EBRD finance for the Cairo Metro? - 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\/22\/more-ebrd-finance-for-the-cairo-metro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"More EBRD finance for the Cairo Metro?\" \/>\n<meta property=\"og:description\" content=\"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 the bank and a decision [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-22T03:55:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/219.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"More EBRD finance for the Cairo Metro?\",\"datePublished\":\"2021-08-22T03:55:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/\"},\"wordCount\":213,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/8\/219.jpg?fit=%2C&ssl=1\",\"keywords\":[\"development\",\"development finance\",\"EBRD\",\"EnterpriseAM\",\"European Investment Bank\",\"International Cooperation Ministry\",\"transport\",\"World Bank\"],\"articleSection\":[\"Development finance\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/22\/more-ebrd-finance-for-the-cairo-metro\/\",\"name\":\"More EBRD finance for the Cairo Metro? 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Heckman did not disclose the size of\u2026","rel":"","context":"In &quot;Automotive + Transportation&quot;","block_context":{"text":"Automotive + Transportation","link":"https:\/\/enterpriseam.com\/egypt\/category\/automotive-transportation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":625360,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/02\/ebrd-provides-eur-205-mn-loan-for-cairo-metro-line-1-rehabilitation\/","url_meta":{"origin":558665,"position":1},"title":"EBRD provides EUR 205 mn loan for Cairo Metro Line 1 rehabilitation","author":"enterpriseam admin","date":"2 August 2018","format":false,"excerpt":"INFRASTRUCTURE WATCH- EBRD provides EUR 205 mn loan to rehab Cairo Metro\u2019s Line 1: The Madbouly government signed yesterday a EUR 205 mn loan agreement with the European Bank for Reconstruction and Development (EBRD) to finance the rehabilitation of infrastructure on the Cairo Metro\u2019s Line 1, according to a Cabinet\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":558206,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/more-ebrd-money-for-abu-qir-railway-conversion\/","url_meta":{"origin":558665,"position":2},"title":"More EBRD money for Abu Qir railway conversion","author":"enterpriseam admin","date":"1 August 2021","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Infrastructure&quot;","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/36.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563458,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/eur-3-mn-ebrd-grant-gets-the-presidential-seal-of-approval\/","url_meta":{"origin":558665,"position":3},"title":"EUR 3 mn EBRD grant gets the presidential seal of approval","author":"enterpriseam admin","date":"4 July 2021","format":false,"excerpt":"Something else we\u2019re 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\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","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":600087,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/egypt-is-the-single-largest-recipient-of-ebrd-investment-in-2018\/","url_meta":{"origin":558665,"position":4},"title":"Egypt is the single largest recipient of EBRD investment in 2018","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"INVESTMENT WATCH- Egypt was the single largest recipient of EBRD investment in 2018: With EUR 1.15 bn invested in 19 projects nationwide, Egypt was the single largest recipient of investment from the European Bank for Reconstruction and Development (EBRD) in 2018, according to an EBRD statement out on Thursday. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":575042,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/30\/govt-requests-another-eur-250-mn-from-ebrd-for-abu-qir-metro-project\/","url_meta":{"origin":558665,"position":5},"title":"Gov\u2019t requests another EUR 250 mn from EBRD for Abu Qir metro project","author":"enterpriseam admin","date":"30 September 2020","format":false,"excerpt":"DEBT WATCH- More EBRD funds in the pipeline for Abu Qir metro conversion project? 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 &quot;Speed Round&quot;","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\/558665","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=558665"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558665\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558655"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558666"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558665"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558665"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}