Cairo – Mubasher: French Development Agency (FDA) and European Investment Bank (EIB) have disbursed about EUR 300 million the first tranche of an EUR 900 million loan to Egypt to fund phase 3 of the metro’s third line.
FDA and EIB present around EUR 100 million and EUR 200 million, respectively, while the EU paid EUR 44 million, according to Al Mal newspaper.
Four contractors execute the second phase of the third line including France’s VINCI Construction, Arab Contractors, and Orascom Construction.
Cairo Metro Line 3 is projected to transport 1.5 million people and save EGP 2.2-2 billion a year.
