A Japanese development agency has agreed a $1.2 billion loan with the Egyptian government to fund Cairo's fourth metro line. The Japan International Cooperation Agency (JICA), an independent governmental agency, inked the deal at Egypt's Cabinet office in downtown Cairo on Monday, according to an official statement. The first tranche of the loan is worth $392 million, according to a report in the state-run Al-Ahram newspaper. The loan is being granted with a 40-year repayment term, including a 10-year grace period, and an annual interest rate of 0.2 per cent. Cairo's planned fourth underground railway line will connect central Cairo with Giza, spanning 17 kilometres and comprising 16 stations. It forms part of a wide-reaching plan to reduce traffic congestion in the capital. The line, scheduled for completion in 2020, is expected to see 1.3 million daily users in its first year, rising to 1.8 million in 2027.
GMT 17:47 2018 Monday ,15 January
‘Negative’ outlook for Gulf sovereign ratings in 2018, says Moody’sGMT 19:27 2018 Sunday ,07 January
UAE pledges to distribute 70% of VAT proceeds to help fund community projectsGMT 19:21 2018 Sunday ,07 January
Surge in foreign fund inflows sets stage for Egyptian boomGMT 19:15 2018 Sunday ,07 January
Iraq to export Kirkuk oil to Iran before January-endGMT 11:35 2018 Wednesday ,03 January
Saudi Food and Drug Authority: No VAT on human medicines, vitamins, and registered medical equipmentGMT 10:00 2018 Wednesday ,03 January
Saudi Customs launches Approved Economic Operator programGMT 07:30 2018 Wednesday ,03 January
Morocco’s 2017 Economic Growth: GDP on the Rise, Investment in DeclineGMT 18:33 2018 Monday ,01 January
No New Year cheer for UAE property market
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor