Egypt approves 400 mln USD loan from WB for logistics project

Egypt's President Abdel-Fattah al-Sisi has approved a $400 million loan from the World Bank for a logistics project aimed at boosting trade between Cairo and Alexandria. The loan will be used to refurbish the railway sector, implement the project, involve the private sector, reform the railway sector, and develop a transparent fee collection plan for the Egyptian railway infrastructure. The project also includes expanding railroads, modernizing signal systems, and upgrading tracks in the Greater Cairo area.

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Frequently Asked Questions

Q: What project did the World Bank approve a $400 million loan for in Egypt?

A: The World Bank approved a $400 million loan for a logistics project in Egypt. [source]