Egypt inks $301mln finance agreement with JICA for Cairo Metro 4th Line

ArabFinance: The Ministry of International Cooperation and the Ministry of Transport signed a ¥41 billion ($301 million) agreement with the Japan International Cooperation Agency (JICA) for the second tranche of the soft development finance to fund the implementation of the first phase of Cairo Metro’s fourth line, according to an official statement on December 27^th.

The first phase of Cairo Metro’s fourth line stretches over 19 kilometers and includes 16 stations, connecting Cairo’s downtown district to Giza Pyramids and the Grand Egyptian Museum.

Minister of International Cooperation, Rania El-Mashat, noted that the transport sector accounted for $6 billion of the total development finance agreed upon until September.

It is worth noting that the development finance portfolio between Egypt and Japan has reached a value of around $3 billion.

On December 19^th, El-Mashat announced that the Egyptian public and private sectors received $11 billion in financing in 2022.