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    Signature(s)

    Amount
    € 350,000,000
    Countries
    Sector(s)
    Egypt : € 350,000,000
    Transport : € 350,000,000
    Signature date(s)
    20/01/2019 : € 350,000,000

    Summary sheet

    Release date
    6 October 2017
    Status
    Reference
    Signed | 20/01/2019
    20160947
    Project name
    Promoter - financial intermediary
    CAIRO METRO LINE 1 UPGRADING AND RENOVATION
    NATIONAL AUTHORITY FOR TUNNELS
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 350 million
    EUR 770 million
    Location
    Sector(s)
    Description
    Objectives

    The project consists of rehabilitation of metro line 1 of the Cairo metro network. The rehabilitation includes the renewal of the signalling system, telecommunications equipment, centralised control system, power supply, track repairs and the electrical and mechanical systems.

    The project is expected to deliver significant time savings to existing users of metro line 1 and to provide additional capacity to accommodate an increasing demand that would otherwise be absorbed by less environmentally friendly modes of transport. The upgrade of the metro line will improve the reliability of the existing metro service and further reduce headways during peak hours. It will represent a fast and affordable transport solution to the population, in particular to those who cannot afford owning a private car. Furthermore, the project will result in vehicle operating cost savings, lower air emissions and less accidents stemming from the expected modal shift from road to public transport.

    Environmental aspects
    Procurement

    If the project was located within the EU, it could fall under Annex II of the EIA Directive 2011/92/EC, thus requiring a decision by the competent authority to determine whether a full environmental impact assessment (EIA) has to be carried out. The Bank shall investigate environmental and social aspects during appraisal and verify that the promoter has followed the relevant EU environmental and social principles, standards and practices. The Bank shall also verify the acceptability of the project in terms of likely environmental impacts and proposed mitigation and compensation measures.

    The Bank will require the promoter to ensure that any procurement process is consistent with the Bank's procurement guidelines.

    Under ELM Guarantee
    Comments

    This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Funding for this project could be part of the EIB's new "Economic Resilience" initiative aimed at strengthening economic resilience in neighboring countries by modernizing and expanding economic and social infrastructure and stimulating growth Sustainable development and job creation.

    Link to source

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - CAIRO METRO LINE 1 UPGRADING AND RENOVATION
    Publication Date
    6 Jun 2018
    Document language
    Main Topic
    Lending
    Document Number
    77595027
    Document Focus
    Environmental Information
    Project Number
    20160947
    Sector(s)
    Countries
    Publicly available
    Download now

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
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