{"id":589922,"date":"2023-07-11T00:00:00","date_gmt":"2023-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/mps-approve-usd-400-mn-world-bank-freight-rail-infrastructure-loan\/"},"modified":"2023-07-11T00:00:00","modified_gmt":"2023-07-11T00:00:00","slug":"mps-approve-usd-400-mn-world-bank-freight-rail-infrastructure-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/mps-approve-usd-400-mn-world-bank-freight-rail-infrastructure-loan\/","title":{"rendered":"MPs approve USD 400 mn World Bank freight rail infrastructure loan"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Yesterday at the House of Representatives: <\/span><span style=\"\">MPs voted on an USD 400 mn loan for rail <\/span><span style=\"\">infrastructure, the establishment of an EGP 1 bn fund to support disabled people, and a draft bill setting up an organization that will work on development projects in collaboration with civil society groups. <\/span><span style=\"\">The votes came during what could be the next-to-last plenary session of the 2022-2023 legislative season.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">CONSPICUOUSLY ABSENT- <\/span><span style=\"\">MPs pushed their scheduled discussion and vote on a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c42300ba-c8d0-46a8-9163-74d189a26690\" style=\"\">bill eliminating preferential tax treatment<\/a><\/span><span style=\"font-weight:400;\"> for some state-owned organizations to today\u2019s agenda. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">Here\u2019s the full rundown: <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#1- World Bank freight rail money:<\/span><span style=\"\"> MPs gave their final approval a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a3909daf-3c48-4041-939d-1a361defdb86\" style=\"\">USD 400 mn loan<\/a><\/span><span style=\"font-weight:400;\"> from the World Bank\u2019s International Bank for Reconstruction and Development (IBRD) to finance the construction of a railway line between the Port of Alexandria and the Sixth of October dry port. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Background:<\/span><span style=\"\"> The World Bank signed off on the loan back in October. The money will help finance the construction of a railway bypass that avoids the congested Greater Cairo-Sixth of October rail corridor. The bypass will allow freight trains to travel between the Port of Alexandria and the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.odpeg.com\/\" style=\"\">newly-built Sixth of October dry port<\/a><\/span><span style=\"\"> via an alternative route to the west of Greater Cairo. It will be able to handle 15 container trains per day by 2030 and up to 50 trains by 2060.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Not everyone is onboard:<\/span><span style=\"\"> Leftist <\/span><span style=\"\">National Progressive Unionist Party spokesman Atef Meghawr<\/span><span style=\"\">y and i<\/span><span style=\"\">ndependent MP Ahmed Farghal<\/span><span style=\"\">i both characterized the loan <\/span><span style=\"\">as what they called<\/span><span style=\"font-weight:400;\"> another example of the Madbouly government\u2019s excessive borrowing. \u201cThis agreement will only increase foreign debt, not to mention that it will not generate financial revenue for the state treasury,\u201d Meghawry said.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">El Wazir strikes back: <\/span><span style=\"\">Transport Minister Kamel El Wazir demanded that Meghawry and Farghali remain in the chamber to hear him rebut their critique, promising that he would tender his resignation if he wasn\u2019t able to make the benefits of the project clear, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3PPq0yw\" style=\"\">Al Mal<\/a><\/span><span style=\"font-weight:400;\">reports. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2-<\/span><span style=\"font-weight:700\">Differently-Abled Fund: <\/span><span style=\"font-weight:400;\">MPs gave their preliminary approval to a draft bill setting up an EGP 1 bn fund to support people with disabilities. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"\">Financed entirely by various state organizations and funds, the Differently Abled Fund will finance training programs to help people with disabilities enter the job market and run SMEs among other forms of social and financial support. The fund received the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a98f73b6-4c00-4934-8065-6e4dd037ac74\" style=\"\">go ahead from the House Social Solidarity Committee<\/a><\/span><span style=\"\"> last week. President Abdel Fattah El Sisi <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c285d7e5-470e-491b-88a6-63e022ea2531\" style=\"\">directed<\/a><\/span><span style=\"font-weight:400;\"> the Madbouly government to set up the fund last year. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What they said:<\/span><span style=\"font-weight:400;\"> \u201cDisabled people are part of society and they deserve all kinds of support, particularly financial assistance, to help them live a normal life,\u201d said head of the Social Solidarity Committee Abdel Hadi Al Qasabi. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#3- MPs also gave preliminary approval to a draft bill setting up the National Alliance for Civilian and Development Action<\/span><span style=\"font-weight:400;\">, which will work to establish development projects and social development initiatives in collaboration with NGOs and civil society organizations. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next? <\/span><span style=\"font-weight:400;\">The bills setting up the Differently Abled Fund and the National Alliance for Civilian and Development Action will be put to a final vote in an upcoming session. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some MPs criticized the transport loan in the context of high foreign debt levels<\/p>\n","protected":false},"author":1,"featured_media":589923,"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":[7344],"tags":[531,72,274,187,190],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-civil-society","tag-enterpriseam","tag-house-of-representatives","tag-legislation-watch","tag-social-welfare","wpautop","entry"],"acf":{"mongo_id":"9b04d9d9-8402-4bc3-bf46-89c2cb4932f6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/384.jpg","photo_position":"above","homepage_title":"MPs approve USD 400 mn World Bank rail loan","full_issue_title":"Egyptian House of Representatives approves World Bank freight rail loan, disability fund, NGO development alliance","related_issue":[589909],"teaser":"Some MPs criticized the transport loan in the context of high foreign debt levels","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.03320b37-eaef-4880-b5ab-84776460990e.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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