World Bank approves $440M loan for construction of rail network in Egypt
The World Bank has approved a $440 million loan upgrade track on 763 km of Egypt’s 5,000 km rail network.
While disclosing this in a statement, the CB stated that Egyptian National Railways (ENR) will put $241 million into the project on the Cairo-Giza-Beni Suef section of the network, bringing the total cost to $681 million.
“Obstacles faced by ENR showed there was margin for improving its performance, namely in the realms of operations, cost recovery, maintenance, and customer service,” the statement reads.
Egypt has focused heavily on investment in transport and urban development infrastructure, seeking development finance to help fund the projects.
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