Egypt approves 1.8 billion euro loan to construct two monorails ...Egypt

The Egyptian Parliament’s Transport and Communications Committee on Sunday approved a 1.8 billion euro loan facilitation agreement between the National Authority for Tunnels and GB Morgan Europe Limited and other financial institutions, allocated for constructing  monorail lines at the New Administrative Capital and 6th of October city. The Undersecretary of the Transport Committee Rizk Ragheb Daiallah, who chaired the meeting, said that the parliament values the monorail project and called for its swift implementation. “Members must have sufficient confidence in how to repay the loan without the state bearing any burdens, taking into account that the Egyptian citizen does not bear any finan

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