Cairo – Mubasher: The Egyptian minister of international cooperation Rania Al-Mashat explored the means for activating a EUR 1.13 billion funding agreement previously approved for the National Authority for Tunnels with senior officials of the European Investment Bank (EIB). 

The funding will be used in the renovation and expansion of Alexandria’s Raml Tram, the renovation and development of the Abu Qir railway in Alexandria, as well as the renovation and development of the Cairo Metro Line 2, Al-Mashat added in a statement on Sunday.

The current cooperation portfolio between EIB and Egypt has reached EUR 4.8 billion allocated for several sectors, such as transportation, water, wastewater, and energy, as well as small- and medium-sized enterprises (SMEs).