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Report: Egypt, development partners signed $ 7.28 bn deals for funding sustainable transport projects in 4 years
Egypt has signed with multilateral and bilateral development partners development funding deals worth $ 7.28 billion for sustainable transport projects in the period from 2020 to 2023.
This came in the annual report of the Ministry of International Cooperation for 2023, entitled “International Partnerships for Sustainable Development: Platforms for Policy and Practice,” which revealed that the total development financing agreed upon in this period for various sectors of the country, from multilateral and bilateral development partners, estimated at approximately $28.5 billion.
These funds enhance the implementation of many projects that support the country’s efforts in the field of smart and sustainable infrastructure, the development of safe means of transportation, and stimulate the implementation of SDGs.
During the past four years, international partnerships have contributed to the implementation of many projects, most notably the projects to develop existing metro lines and launch new lines that transport millions of passengers annually and are a vital artery of transportation within Greater Cairo.
Among these projects is the development and renovation of the first line of the metro in Greater Cairo. This is funded by the French Development Agency (AFD) and the European Bank for Reconstruction and Development (EBRD), in addition to a feasibility study project for the rehabilitation of the second metro line funded by the European Investment Bank (EIB), a project to manufacture and supply 55 air-conditioned trains for the first metro line funded by the French government, and a project to rehabilitate 23 trains for the first metro line funded by the Spanish government.
It was also agreed to complete financing for the first phase of the fourth metro line project with Japan. As well as a project to manufacture and supply 40 train units (320 cars) for the second and third lines of the Greater Cairo Metro, funded by South Korea, and a project to supply 6 locomotives and 2 tractors for the second line of the Metro, funded by the EBRD.
In addition, the development partners are financing many other projects, including the project to develop the Abu Qir railway line and turn it into an electric metro, which will enhance smart means of transportation in Alexandria Governorate. The project is funded by the AFD and EBRD.
Development partners also contribute to financing many projects being implemented to develop Egypt’s railways, including the Egyptian Railways Development and Safety Project on the Alexandria-Cairo-Nag Hammadi axis, which is funded by the World Bank, and the Egypt Railways Development and Installation of Automatic Train Protection (ATP) systems, funded by the EBRD. The project to supply 4 maintenance machines for the Egyptian Railways, funded by Austria, and the start of purchasing 100 tractors for the Egyptian Railways with a contribution from the EBRD and a grant for supplementary studies to modernize the Tanta-Mansoura-Damietta railway line with funding from the EIB, in addition to development financing from the EIB and the AFD.
The project to develop signaling systems for the Luxor High Dam Railway is also being implemented with funding from South Korea, the project to develop the trade logistics line between Cairo and Alexandria with funding from the World Bank Group, and the electric train project in cooperation with China.
In a related context, the implementation of the project to complete the Sharm El-Sheikh tunnel road is being financed with funding from the Kuwait Fund for Development, and the third phase of studies for the navigation project between Lake Victoria and the Mediterranean Sea is being financed with funding from the African Development Bank.
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