Egypt: 145 million euros to strengthen the safety and reliability of its rail transport
#Economy #Investment #RailTransport #Security #Trade #Transport #EGYPT
Denys Bédarride
Wednesday 7 April 2021 Last update on Wednesday, April 7, 2021 At 3:38 PM

The Board of Directors of the African Development Bank approved a 145 million euro loan in Abidjan to finance the Egyptian National Railways Modernization Project (ENRMP). The funding will be used to improve reliability, operational safety and increase the capacity of the national rail network as well as the performance of the rail system in Egypt.

For safer and greener transport

“Safe, accessible, convenient and environmentally friendly transport systems will be essential for achieving sustainable development,” said Rania A. Al-Mashat, Minister of International Cooperation of Egypt. The improvement and expansion of Egypt’s rail system through this project promotes active mobility and enables urban and rural development through a connected intermodal system. Technology and innovation, along with a strong commitment to public transport, will be key to building back better. “

Egyptian rail transport is at the heart of the country’s economy and competitiveness. Passenger and freight traffic by rail is expected to increase by 15% and 10% respectively by 2029 thanks to the African Development Bank loan and other investments. Currently, around 8% of passenger traffic and 6% of freight traffic is carried by rail. The planned improvements are expected to benefit low-income Egyptians, around 40% of the population, for whom the train remains the cheapest means of transport. The increase in rail freight should help reduce greenhouse gas emissions.

The Egyptian government has made significant investments to modernize the country’s rail infrastructure by renovating tracks, modernizing signaling and purchasing new rolling machines. As part of the project, a state-of-the-art and economical train protection system will be installed on 950 kilometers of railway tracks, along busy axes: Alexandria in the north to Negh Hammadi in the south, and Port Said in the east.

“The newly approved project will improve the multimodal transport environment in Egypt as well as the efficient movement of people, services and goods,” said Malinne Blomberg, Deputy Managing Director of the African Development Bank for Africa North. This operation is fully in line with the Bank’s intervention strategy in Egypt, contributing to sustained and inclusive economic growth, and more particularly by developing infrastructure that supports private sector expansion and job creation. “

Source: African Development Bank Group (AfDB)

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