Egypt, Japan sign $301m agreement to finance Cairo Metro’s 4th line

Japan will release to Egypt $301 million to finance the implementation of phase one of Cairo Metro’s fourth line.

The related agreement was signed between Egypt’s Minister of International Cooperation, Rania El-Mashat and the Minister of Transport, Kamel El-Wazir, and Japan’s Embassy in Egypt and the Japan International Cooperation Agency (JICA), Mubasher reports.

The funds account for the second tranche of the soft development financing. The fourth metro line stretches over 19 kilometers and includes 16 stations, connecting Cairo and Giza governorates and the 6th of October city.

The transport sector accounts for $6 billion of the current development cooperation portfolio and comprises a list of projects that promote means of transportation to citizens and stimulate the private sector.

With the new financing, the development finance portfolio between Egypt and Japan has reached about $3 billion.