President Abdel Fattah al-Sisi approved on Thursday for a $400 million loan agreement with the World Bank. This loan is designated for a logistics project with the aim of enhancing trade connectivity between Cairo and Alexandria.
As per the terms of the agreement, this sum can be converted into different currencies when necessary to support the financing of the project.
The Ministry of Transport will be responsible for the project's execution, and Egypt will be represented before the World Bank by the Egyptian Railway Authority.
The primary goals of this venture encompass the improvement of logistics and transportation services and the reduction of carbon emissions in both sectors along the Alexandria - 6th of October - Greater Cairo railway line.
This comprehensive project includes the renovation of the railway sector, project implementation, participation of the private sector, reforms in the railway sector, and the formulation and adoption of a transparent fee collection strategy for the utilization of the Egyptian railway infrastructure. This also entails the creation of necessary regulations and controls to facilitate the execution of this plan.
Moreover, the initiative encompasses the expansion of railroads, the modernization of railway signal systems, and targeted track upgrades to establish a railway branch encircling the Greater Cairo area. Additionally, a new connection will be established from the Beshayl line to Itay El Barud to the Marazeek - Al Wahat line, all covered by this loan.
Furthermore, enhancements to the Marazeek - Al Wahat line are included in the project. This will entail the modernization of existing tracks and signal systems across an approximate distance of 70 kilometers on the Al Wahat line.
President Sisi
