European Bank for Reconstruction and Development (EBRD) has approved a loan of EUR 200 million to develop Cairo Metro Line 1, The Assistant Minister of Transport Amr Shaat said.
The ministry of transportation has approached banks and European institutions such as French Development Agency to provide the rest of the targeted funds to upgrade the Metro Line 1
He told Amwal Al Ghad that ERBD is set to explore the decision of extending the targeted funds to upgrade the Metro Line 1 on the 18th of June so as to grant it to the ministry of transportation during the next two months.
Developing infrastructure of Cairo Metro Line 1 will reduce the minimum time between trains, increase capacity by introducing the cutting-edge technology of signalling system, and provide safe, reliable and eco-friendly transport system for more than 2 million passengers per day.
