{"id":646645,"date":"2017-06-20T04:19:48","date_gmt":"2017-06-20T04:19:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/20\/enr-to-get-eur-290-mn-facility-from-ebrd-to-finance-fleet-upgrade\/"},"modified":"2017-06-20T04:19:48","modified_gmt":"2017-06-20T04:19:48","slug":"enr-to-get-eur-290-mn-facility-from-ebrd-to-finance-fleet-upgrade","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/20\/enr-to-get-eur-290-mn-facility-from-ebrd-to-finance-fleet-upgrade\/","title":{"rendered":"ENR to get EUR 290 mn facility from EBRD to finance fleet upgrade"},"content":{"rendered":"

<\/a> It\u2019s a good week for the Egyptian National Railway, which is getting EUR 290 mn from the <\/strong>EBRD to finance its fleet upgrade. <\/strong>In the latest sign the Ismail government is taking rail transport seriously, ENR is getting EUR 290 mn in financing from the European Bank for Reconstruction and Development to help finance the purchase of 100 locomotives from General Electric. Investment and International Cooperation Minister Sahar Nasr signed the agreement for the facility with the EBRD on Monday\u00a0and this follows the\u00a0USD 575 mn supply-and-maintenance contract with General Electric<\/a> signed on Saturday. The bank will also provide ENR with the technical assistance and support necessary to \u201cimplement a comprehensive freight reform program<\/strong>\u201d and launch a safety-focused awareness campaign to promote safe rail travel for women, according to an EBRD press release<\/a>. \u201cThis is a key step in supporting the development and reform of the transport sector in line with the EBRD\u2019s Green Economy Transition approach,\u201d EBRD Managing Director for the Southern and Eastern Mediterranean Janet Heckman said.<\/p>\n

Egypt is also in talks for <\/strong>debt-for development swap agreements<\/strong><\/a> with the French and US <\/strong>governments, <\/strong>Nasr said at the signing ceremony on Monday, according to Al Borsa<\/a>. Debt-for development swap agreements usually see a foreign entity or government purchase debts from the original creditor at a substantial discount then reselling it to the debtor country in the local currency equivalent; the proceeds are then used to finance development projects.<\/p>\n

Meanwhile, We should also be expecting the African Development Bank (AfDB) to sign off on the third and final USD 500 mn tranche of its USD 1.5 bn loan this year<\/strong>, the bank\u2019s Egypt representative Leila Mokadem said on Monday, according to an Investment and International Cooperation Ministry statement<\/a>. An AfDB delegation had met with Minister Sahar Nasr, Electricity Minister Mohamed Shaker, and Trade and Industry Minister Tarek Kabil to discuss the timeline for the tranche.<\/p>\n","protected":false},"excerpt":{"rendered":"

It\u2019s a good week for the Egyptian National Railway, which is getting EUR 290 mn from the EBRD to finance its fleet upgrade. In the latest sign the Ismail government is taking rail transport seriously, ENR is getting EUR 290 mn in financing from the European Bank for Reconstruction and Development to help finance the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-646645","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"6fb0b333-3be7-42bd-88b5-c099502e6214","order":"0","is_powered_by":true,"section_story_id":"bfb6f80e-4f8a-4884-9ed1-6f111fc726fd","story_type":"1","photo_url":"","photo_position":"above","related_issue":[646636],"teaser":"","voice_url":""},"yoast_head":"\nENR to get EUR 290 mn facility from EBRD to finance fleet upgrade - 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\/2017\/06\/20\/enr-to-get-eur-290-mn-facility-from-ebrd-to-finance-fleet-upgrade\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ENR to get EUR 290 mn facility from EBRD to finance fleet upgrade\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a good week for the Egyptian National Railway, which is getting EUR 290 mn from the EBRD to finance its fleet upgrade. 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ENR is receiving a\u2026","rel":"","context":"In "Automotive + Transportation"","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":579284,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/01\/ebrd-and-partners-fund-more-green-finance-for-smes-ebrd-bii-lend-usd-100-mn-to-bdc\/","url_meta":{"origin":646645,"position":4},"title":"EBRD and partners fund more green finance for SMEs + EBRD, BII lend USD 100 mn to BdC","author":"enterpriseam admin","date":"1 February 2023","format":false,"excerpt":"DFIs to fund more green projects + privatization candidate BdC gets funding: More funding for green projects will be available to local SMEs courtesy of the European Bank for Reconstruction and Development (EBRD), the EU, and the Green Climate Fund. 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