{"id":590197,"date":"2023-07-16T00:00:00","date_gmt":"2023-07-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/"},"modified":"2023-07-16T00:00:00","modified_gmt":"2023-07-16T00:00:00","slug":"aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/16\/aiib-to-provide-eur-250-mn-loan-for-abu-qir-metro-project\/","title":{"rendered":"AIIB to provide EUR 250 mn loan for Abu Qir metro project"},"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\">More money for the Abu Qir metro project:<\/span><span style=\"\">The Asian Infrastructure <\/span><span>Investment Bank (AIIB) will provide EUR 250 mn in financing for the redevelopment of the Abu <\/span><span>Qir railway in Alexandria,<\/span><span> the <\/span><span>International Cooperation Ministry <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3OfvxgR\" style=\"\">said<\/a><\/span><span>Thursday<\/span><span style=\"font-weight:400;\">. The two sides signed the agreement during International Cooperation Minister Rania Al Mashat\u2019s visit to Beijing last week.<\/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 metro system?<\/span><span style=\"\"> The project seeks to convert Alexandria\u2019s Abu Qir railway into an electric, <\/span><span>low-carbon, underground metro. The line connects<\/span><span style=\"font-weight:400;\"> the center of Alexandria to Abu Qir in the east of the city.<\/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\">AIIB is chipping in a sixth of the project\u2019s cost:<\/span><span style=\"\"> The EUR <\/span><span style=\"\">1.6 bn<\/span><span style=\"\"> project is also getting an<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/603ea8b0-b4c1-49d4-bde6-722d0547ddd4\" style=\"\"><\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/3ifNl8b\" style=\"\">EUR 750 mn<\/a><\/span><span> from the European Investment Bank, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/603ea8b0-b4c1-49d4-bde6-722d0547ddd4\" style=\"\">EUR 250 mn<\/a><\/span><span>from the French Development Agency, and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e4f6c39b-3572-4e50-9dd7-9b1c21f444f2\" style=\"\">EUR 250 mn<\/a><\/span><span> from the European Bank for Reconstruction and Development (<\/span><span>EBRD<\/span><span>).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line<\/p>\n","protected":false},"author":1,"featured_media":590198,"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":[10792,2399,88,72,7111,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-590197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-infrastructure","tag-abu-qir-railway","tag-asian-infrastructure-investment-bank","tag-debt-watch","tag-enterpriseam","tag-infrastructure","tag-transport","wpautop","entry"],"acf":{"mongo_id":"d1f0b52f-70b7-4ca8-9f7a-3adce86af2e0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/551.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AIIB to provide EUR 250 mn loan for Egypt\u2019s Abu Qir metro project","related_issue":[590184],"teaser":"This is around a sixth of the EUR 1.6 bn project, which will convert the Abu Qir railway into an underground metro line","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.691771e0-1f31-43a4-b47c-b8d64e2cf74a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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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 &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":603694,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/cabinet-approves-fresh-loans-to-support-banking-industry-fund-abu-qir-metro\/","url_meta":{"origin":590197,"position":2},"title":"Cabinet approves fresh loans to support banking industry, fund Abu Qir metro","author":"enterpriseam admin","date":"20 August 2023","format":false,"excerpt":"Ministers greenlight loans for banking sector reform + the Abu Qir metro.","rel":"","context":"In &quot;Cabinet watch&quot;","block_context":{"text":"Cabinet watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/cabinet-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/891.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/23\/your-top-infrastructure-stories-4\/","url_meta":{"origin":590197,"position":3},"title":"Your top infrastructure stories","author":"enterpriseam admin","date":"23 September 2020","format":false,"excerpt":"Your top infrastructure stories for the week include: Wastewater treatment: A USD 15 mn expansion of a USAID-financed wastewater treatment facility in Luxor is now online after International Cooperation Minister Rania Al Mashat inaugurated the facility earlier this week, according to a cabinet statement. The new expansion increases the plant\u2019s\u2026","rel":"","context":"In \"Abu Qir Fertilizers\"","block_context":{"text":"Abu Qir Fertilizers","link":"https:\/\/enterpriseam.com\/egypt\/tag\/abu-qir-fertilizers\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581702,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/20\/offers-roll-in-to-build-the-eur-1-6-bn-alexandria-metro-project\/","url_meta":{"origin":590197,"position":4},"title":"Offers roll in to build the EUR 1.6 bn Alexandria metro project","author":"enterpriseam admin","date":"20 February 2023","format":false,"excerpt":"Three consortiums of local and international contractors have submitted final bids","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\/9\/train-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","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":590197,"position":5},"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 &quot;Development finance&quot;","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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590197","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=590197"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/590197\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/590184"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/590198"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=590197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=590197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=590197"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=590197"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=590197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}