Sisi approves €250 mln loan to electrify, upgrade Alexandria’s Abu Qir railway ...Egypt

President Abdel-Fattah al-Sisi has approved a 250 million euros loan deal with the Asian Infrastructure Investment Bank (AIIB) to modernize the Abu Qir railway line in Alexandria into an electric metro system. The government approved the 250 million euros loan deal in August 2023, and the House of Representatives passed it in June 2024. The loan will fund the electrification of the railway line connecting downtown Alexandria with the Abu Qir district in the northeast of the city. It will be repaid over 18.5 years with a grace period of about five years. The step is one of several to provide clean transportation modes, aligning with the country’s ambitious target of generating 42 percent of i

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