Cairo - Mubasher: Egyptian President Abdel Fattah El-Sisi has approved the loan agreement worth up to EUR 145 million between Egypt and the African Development Bank (AfDB) to modernise Egyptian railways, Akhbar El Yom reported.
The Egyptian Gazette published the presidential decree no. 265 of 2021, regarding the approval on the loan agreement.
Signed on 23 May 2021, the agreement aims to finance the installation of the Automatic Train Protection (ATP) system based on the European Train Control System (ETCS).
Hence, the loan will contribute to enhancing the safety of train operations, raising the network capacity through updated signalling and ETCS, and improving the efficiency of train services.
