Madrid trade talks focus on TikTok as US and China seek agreement    El Hamra Port emerges as regional energy hub attracting foreign investment: Petroleum Minister    Egypt hosts 4th African Trade Ministers' Retreat to accelerate AfCFTA implementation    Egypt's Investment Minister, World Bank discuss strengthening partnership    Israeli aggression won't bring peace, jeopardises treaties, Egypt's Sisi warns    Power of Proximity: How Egyptian University Students Fall in Love with Their Schools Via Social Media Influencers    Egypt wins Aga Khan Award for Architecture for Esna revival project    EGX closed in mixed notes on Sept. 15    Madbouly reviews strategy to localize pharmaceutical industry, ensure drug supply    EHA launches national telemedicine platform with support from Egyptian doctors abroad    Egypt's Foreign Minister, Pakistani counterpart meet in Doha    Egypt condemns terrorist attack in northwest Pakistan    Emergency summit in Doha as Gaza toll rises, Israel targets Qatar    Egypt advances plans to upgrade historic Cairo with Azbakeya, Ataba projects    Egyptian pound ends week lower against US dollar – CBE    Egypt hosts G20 meeting for 1st time outside member states    Lebanese Prime Minister visits Egypt's Grand Egyptian Museum    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt seeks Indian expertise to boost pharmaceutical industry    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EBRD to agree on new funding for Cairo metro line 2 with Transportation Ministry
Agreement will ‘hopefully' be finalised in next several weeks, says managing director
Hagar Omran Published in Daily News Egypt on 04 - 06 - 2018

Janet Heckman, managing director of the Southern and Eastern Mediterranean region at the European Bank for Reconstructions and Development (EBRD), said that her bank is finalising a new financial agreement with the Egyptian Ministry of Transportation to buy six trains for the second line of the Cairo metro.
“We are discussing the terms and hopefully we will finalise the agreement in the next couple of weeks,” Heckman told Daily News Egypt, noting that the EBRD is quite positive about opportunities to cooperate with the Ministry of Transportation, as the traffic issue is critical in Cairo and Alexandria.
The EBRD's cooperation with the Transportation Ministry is an appropriate use of the banks' resources, as it matches the local market's needs, said Heckman.
Cooperation opportunities with the Transportation Ministry include various projects, like dry ports, roads, railways, and the metro, said Heckman, adding, “we work very closely with the Ministry of Transportation; last year we signed an agreement worth €300m for the Egyptian State Railway.”
The EBRD launched the public-private partnership (PPP) for six dry port projects at the bank's headquarters in London in early 2018, said Heckman, noting, “this is quite significant because PPP projects help to reduce the government's burden of financing projects and boost the private sector's investments.”
Heckman mentioned that her bank is working very closely with the other financial institutions that are active in the transportation field, like the African Development Bank (ADB) and the European Investment Bank (EIB).
Egypt is a founding member of the EBRD and has been a country of operations since 2012. To date, the bank has invested €3.6bn in 80 projects in the country, according to the bank's website.
The EBRD's areas of investment include the financial sector, agribusiness, manufacturing, and services, as well as infrastructure projects such as power, transport, and municipal water and wastewater services.

Clic here to read the story from its source.