Japan has signed a $301 million agreement to finance the construction of Cairo Metro’s fourth line. The new line, which is set to be completed in 2025, will run from Cairo International Airport to the suburbs of New Cairo and will be a major transportation improvement for the city.
The Cairo Metro system is a vital part of the city’s transportation infrastructure, serving millions of passengers each day. The addition of a fourth line will not only improve transportation options for residents, but also boost economic growth and development in the city.
The financing agreement between Japan and Egypt was signed by Japan’s International Cooperation Agency (JICA) and Egypt’s Ministry of Transportation. JICA will provide $301 million in official development assistance (ODA) loans to fund the construction of the new line.
The Cairo Metro’s fourth line will be a significant addition to the city’s transportation system, as it will connect Cairo International Airport with the suburbs of New Cairo. This will make it easier for travelers to get to and from the airport, as well as providing a convenient transportation option for residents living in the suburbs.
In addition to the funding from JICA, the Cairo Metro’s fourth line will also receive support from the African Development Bank and the European Investment Bank. The construction of the new line is expected to create thousands of jobs and stimulate economic growth in the region.
Overall, the signing of the $301 million agreement between Japan and Egypt to finance the construction of Cairo Metro’s fourth line is a major milestone for the city’s transportation infrastructure. It will improve transportation options for residents and tourists, and boost economic development in the region.