The European Investment Bank and the Egyptian government have now signed the second of three 200 million Euros loans for the extension of the metro into the Greater Cairo.
The project will widen the metro connection of the city by a third line and the loan will contribute to the design, construction and commission of it. The goal of the project is to enhance the lives of Cairo’s population in three ways:
- enhancing the transport problems of the city (making more parts of the city fast accessible)
- reducing the cars on the streets leading to conjunctions
- improving the environmental pollution
The project meets the intention of the EIB to improve social and economic development in order to improve people’s lives. Since 1979, the bank has worked to fulfill this aim by investing a total sum of 6.4 billion Euros into the country.