Original disclosure @ EBRD website
Updated in EWS Nov 1, 2022
Disclosed by Bank Oct 10, 2022
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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.
Eng. Ghada Hamed – Loans Follow-up Manager
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