El-Sisi ratifies credit facility to import 7 Talgo sleeper trains

Under the agreement, payments are due every six months, totaling 60 installments spread out over 40 years

Staff Writer, Arab Finance

August 26, 2024

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Arab Finance: President Abdel Fattah El-Sisi has approved a 40-year credit facility agreement worth €200 million between the Egyptian and Spanish governments to import seven luxury sleeper trains from the Spanish rail manufacturer Talgo, according to the Official Gazette.

Under the agreement, payments are due every six months, totaling 60 installments spread out over 40 years, including a 10-year grace period.

The facility has an interest rate of 0.15% that is applied to the amounts withdrawn from the loan as of the date of each withdrawal until the date of payment.

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