Early Warning System

Countries

Egypt

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Proposed

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Dec 14, 2022

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Egypt

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Amount (USD)

$ 38.85 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 40
Converted using 2022-10-10 exchange rate.

Project Cost (USD)

$ 213.65 million

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 1, 2022

Disclosed by Bank Oct 10, 2022

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bank provided information, the investment involves the provision of a sovereign loan of up to EUR 40 million to the Arab Republic of Egypt, to be on-lent to Egyptian National Railways ("ENR").

The loan will be used to partially finance the supply and installation of the railway tracks, and signalling and telecommunication systems of Robeiky - 10th of Ramadan - Belbeis Railway Line ("the Project").It is expected that the remaining part of the Project cost will be financed by another financial institution via a sovereign loan. The Government of Egypt ("GoE") will self-fund the Project's civil works.

The Project will connect the 10th Ramadan Dry Port PPP project ("DP 10") to ENR's main network, and in parallel allow freight traffic from / to a number of ports to bypass the Cairo railway node and save time. It is expected to serve containerised cargo through ENR's existing fleet. It will also serve commuting traffic between Robeiky, 10th Ramadan and Belbeis. As such, the Project will contribute to a modal shift of cargo and passenger transport from road to rail. The Project therefore represents a greener transport solution. It also represents an enabling infrastructure for the DP 10, which represents an integral part of the GoE's plan to develop intermodal transport systems and engage the private sector to accelerate the green transition.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Eng. Ghada Hamed – Loans Follow-up Manager
eng.ghadahamed@gmail.com
+2025748730
https://enr.gov.eg/

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html