Egypt in talks with five financial institutions to finance Aswan-Toshka railway project
Egypt is negotiating with five international financial institutions funding for planned Aswan-Toshka railway project linking the Arab republic to neighboring Sudan, reports say.
The European Bank for Reconstruction and Development, European Investment Bank, World Bank, Asian Infrastructure Investment Bank, and Islamic Development Bank, Arab Finance reports citing Al Mal.
The media did not disclose the size of the funds being negotiated for the 280-kilo meter line expected to be completed between 24 and 36 months.
The project is the first phase in a larger project that will establish a rail link between Egypt and Sudan, with a second phase planned to connect Toshka to the Sudanese border town of Wadi Halfa, reports say.