URBAN TRANSPORT INFRASTRUCTURE FRAMEWORK EGYPT

Promoter – Financial Intermediary

NATIONAL AUTHORITY FOR TUNNELS

Location

• Egypt

Description

The project consists of a framework loan to cover urban rail schemes in cities across Egypt, in particular investments in the rehabilitation and expansion of metro and tram systems in Alexandria and Cairo.

Objectives

The aim is to finance large public transport projects in the cities of Alexandria and Cairo in Egypt, over the next 5 years. Transport in both cities is heavily reliant on road transport, resulting in high levels of pollution, traffic accidents and GHG emissions. Furthermore, the urban road network cannot cope with demand given the size of the cities, leading to widespread transport congestion and constraining economic development.

Sector(s)

• Transport - Transportation and storage

Under ELM Guarantee

This operation is covered by the ELM Guarantee.

Proposed EIB finance (Approximate amount)

EUR 1128 million

Total cost (Approximate amount)

EUR 2256 million

Environmental aspects

If located in the EU, the public transport investment schemes included in the project, would usually fall under Annex II of the Directive 2014/52/EU and on basis of a screening by a Competent Authority the need for an Environmental Impact Assessement (EIA) would be established. As the schemes may be a mix of rehabilitation works and track extensions, the requirements to ensure compliance with the EIB's Environmental and Social standards will be checked at allocation stage, when the scope is better defined. The promoter has to implement the schemes in compliance with the EIB's Environmental and Social Standards, requiring at least an screening of environmental and social impacts, an Environmental and Social Action Plan, Stakeholder Engagement Plan and an Environmental Management Plan. The project's relevant key documents will be published in line with the EIB's procedures.

Procurement

The promoter has to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement. It is expected that the main works and supply contacts will be procured via open or restricted procedures with publication in the EU Official Journal.

Status

Signed - 17/12/2020