Negotiations ongoing with five int’l institutions to finance Aswan-Toshka railway
The Transport Ministry is in negotiations with five international financial institutions to help fund the construction of the planned Aswan-Toshka railway line, Al Mal reports, citing unnamed sources. The European Bank for Reconstruction and Development, European Investment Bank, World Bank, Asian Infrastructure Investment Bank, and Islamic Development Bank are all reportedly in talks to fund the 280 km line, which is expected to take between 24 and 36 months to be constructed. Enterprise was unable to reach a ministry representative to confirm the report.
The project has already lined up some financing: An unspecified part of the EUR 3.6 bn financing package agreed with the French government earlier this year will be allocated to the project.
The Aswan-Toshka line is the first phase in a larger project that will establish a rail link between Egypt and Sudan, with a second phase planned to connect Toshka to the Sudanese border town of Wadi Halfa.