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Tuesday, 24 May 2022

MPs greenlight EUR 250 mn EBRD Alex metro loan

EBRD Alex metro loan gets House approval: MPs have approved a EUR 250 mn loan from the European Bank for Reconstruction and Development (EBRD) to finance the conversion of the Abu Qir railway into an electrified metro line, Al Shorouk reports. The Transport Ministry signed the final agreement with the European lender in March.

Other things we’re keeping an eye on this morning:

  • Customers of the Arab Organization for Industrialization (AOI) and its subsidiary Zero Tech will be able to purchase products on credit using valU’s buy-now pay-later service after the three companies signed a partnership agreement. (press release, pdf)
  • Former CBC owner Mohamed El Amin has been handed a three-year prison sentence and an EGP 200k fine after being found guilty of assaulting children at his orphanage. (Ahram Gate)
  • UN chief Antonio Guterres thanked President Abdel Fattah El Sisi for allowing direct flights between Cairo and Yemeni capital of Sanaa under the framework of the UN’s brokered truce in the war-torn country. (Foreign Ministry)

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