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Wednesday, 28 December 2022

We’re getting more money from JICA for Cairo Metro Line 4

Egypt inks agreement with JICA for second tranche of Cairo Metro loan: The Japanese International Cooperation Agency (JICA) signed an agreement with International Cooperation Minister Rania Al Mashat and Transport Minister Kamel El Wazir to disburse the second USD 301 mn tranche of its USD 1.2 bn loan to finance construction of the first phase of Cairo Metro Line 4, according to an International Cooperation Ministry statement.

In detail: The tranche comes 10 years after JICA disbursed the first JPY 32.7 bn (USD 291.5 mn) tranche of the loan back in 2012. The agency had said back in 2017 it was “prepared” to disburse the second tranche once the National Railway Authority spent the first tranche on the metro construction project. The first two tranches add up to USD 592.5 mn, nearly half of the USD 1.2 bn four tranche loan.

Refresher on Cairo Metro Line 4: The first 19-km phase of the line is expected to take six years to complete and will connect Giza, Cairo and Sixth of October City. It will include 16 stations and provide access to the Grand Egyptian Museum and the Giza Pyramids. The second, 23.5-km phase, will connect to New Cairo and will include 20 stations.

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