Africa News Egypt inks $1.66mln grant deals with EBRD

Egypt inks $1.66mln grant deals with EBRD

-

- Advertisment -

Cairo –  Egypt’s Ministry of Investment and International Cooperation has signed two grant agreements worth EUR 1.5 million (EGP 28 million) with the European Bank for Reconstruction and Development (EBRD) to finance the improvement of the country’s railway cargo shipment.

The first grant will be used to help the Egyptian National Railways develop its current shipment operations, consider the establishment of a separate subsidiary, and set up a cargo tracking system, minister of investment Sahar Nasr said in a statement on Monday.

In addition, the second grant will be directed to finance the consulting operations for the purchase of 100 new locomotives worth EUR 290 million in collaboration with the EBRD as part of a plan to buy 250 new locomotives, Nasr added.

The investment ministry has provided the transport ministry with total funding and grants amounting to $6 billion, she revealed.

EBRD’s investments in Egypt registered EUR 5 billion directed to several sectors, mainly the industrial sector as well as developmental and infrastructure projects.

Source: Mubasher

All Rights Reserved – Mubasher Info © 2005 – 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Liberia, World Bank Sign US$3.7m agreement to boost fisheries sector

LIBERIA – The Government of Liberia and the World Bank have signed a US$3.7 million Project Preparatory Advance...

Dubai hotel operator set to make Uganda debut

LEVA Hotels & Resorts has entered into a management agreement to operate the Emin Pasha Lake View Hotel...

[Audio] A Port-Louis, 7 porte-conteneurs attendent d’être débarqués

.fb-comments,.fb-comments span,.fb-comments span iframe{min-width:100%!important;width:100%!important} L’alerte cyclonique de niveau 2 en vigueur actuellement vient prolonger l’interruption des activités de manutention maritime....

Siemens, DEWA partner on revolutionary blockchain strategy for Dubai

Dubai Electricity and Water Authority (DEWA) and Siemens have partnered to transform Dubai into the world's first government...

Mayra Andrade dans le Biterrois : “J’ai toujours été borderline de la musique du Cap-Vert”

La chanteuse cap-verdienne est en concert ce vendredi 24 janvier à 20 h 30 à la Cigalière à Sérignan....

Éliminatoires Mondial 2022 : le calendrier des Lions du Sénégal connu

iGFM-(Dakar) Tête de série du groupe H du premier tour des éliminatoires du Mondial Qatar 2022, le Sénégal ouvrira...

Must read

Liberia, World Bank Sign US$3.7m agreement to boost fisheries sector

LIBERIA – The Government of Liberia and the...

Dubai hotel operator set to make Uganda debut

LEVA Hotels & Resorts has entered into a...
- Advertisement -

You might also likeRELATED
Recommended to you