Cairo – Mubasher: The Egyptian parliament approved the presidential decree no. 14 of 2020 regarding a credit facility for the purchase of 1,300 railroad cars, the Middle East News Agency (MENA) reported on Sunday.

Valued at EUR 1.016 billion, the agreement was signed between the Egyptian National Railways (ENR) on one side and Export-Import Bank Plc. (Eximbank) and State Specialized Russian Export- Import Bank on the other side.

The two loans will be disbursed over 24 semi-annual payments over twelve years, starting from the date of credit payment.