Egypt: Banque Misr, one of the oldest commercial banks established in Egypt, has acquired 1.1 billion shares of Banque du Caire at a price of 6.2 pounds per share
#Cairo #Economy #Finance #Metro #EGYPT
Agence Ecofin
Saturday 14 January 2023 Last update on Saturday, January 14, 2023 At 7:00 AM

The Egyptian authorities are continuing to extend the Cairo metro network to relieve congestion in the capital, which has a population of nearly 20 million, in order to bring an additional touch of sustainability to urban mobility.

The Japan International Cooperation Agency (JICA) has granted Egypt 41 billion yen ($306 million) in funding for the implementation of the first phase of Line 4 of the Cairo Metro, announced the Egyptian Ministry of International Cooperation in a press release published on Tuesday 27 December.

“The funding will be used to support the efforts of the State in the field of the promotion of sustainable urban mobility and the development of means of transport capable of relieving congestion in the city of Cairo”, underlined the ministry.

The first phase of Cairo Metro’s fourth line is 19 kilometers long and includes 16 stations connecting downtown Cairo to the Giza pyramids and the Grand Egyptian Museum.

The second phase of this same line will be developed later. It will extend over 23.5 km and will include 19 stations.

In service since September 1987, the Cairo metro has undergone several extensions motivated by the mobility challenges caused by the increase in the population of the Egyptian capital, which currently stands at nearly 20 million inhabitants.

Réagissez à cet article

Vos commentaires

Rejoignez la discussion

Your email address will not be published. Required fields are marked *