Egypt’s transport sectors highest receipt of financing from partners at $1.8B

  • Date: 20-Aug-2021
  • Source: Egypt Today
  • Sector:Transport
  • Country:Egypt
  • Who else needs to know?

Egypt’s transport sectors highest receipt of financing from partners at $1.8B

CAIRO – 19 August 2021: Transport sector tops the government's priority list as the highest recipient of development financing from multilateral and bilateral development partners during 2020, at a value of $1.8 billion, according to Minister of International Cooperation Rania Al-Mashat. Al-Mashat stressed that the development of the transport sector echoes in the exponential growth in the private sector’s contributions in development interventions. She explained that the International Bank for Reconstruction and Development has financed several projects in the transport sector, including the “Egypt National Railways Restructuring Project” (ENRRP) project in 2009 with a value of $270 million, as well as additional financing worth $330 million in 2011. The World Bank is also financing the “Greater Cairo Air Pollution Management and Climate Change” project with a value of $200 million, which ensures the reduction of harmful emissions from vehicles and the provision of infrastructure to meet the energy supply requirements for charging and maintaining electric vehicles. This came during Al-Mashat’s meeting with Ibrahim Dajani, Regional Director for Sustainable Development and Infrastructure in the Middle-East and North Africa Region at the World Bank Group (WBG), during his visit to Egypt, to discuss prospects for joint cooperation between the Egyptian government and