Ecomnews Med The Mediterranean News on Economy
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.
In recent years, Egypt has stepped up arms purchases to strengthen its military capabilities, in a geographic area considered to be security sensitive. To this end, its military cooperation with the United States has strengthened, particularly under President Donald Trump. Egypt will buy $ 197 million worth of weapons from the United States.
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