JICA signs $301 million loan agreement with Egypt for Greater Cairo Metro Line 4

Krishtina D'Silva Posted on: 2023-01-09 07:10:00 Viewer: 2,462 Comments: 0 Country: Egypt City: Cairo

JICA signs $301 million loan agreement with Egypt for Greater Cairo Metro Line 4

Cairo, Egypt (Urban Transport News): The Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Arab Republic of Egypt in Cairo to provide a Japanese ODA loan of up to 41,000 million yen (US$301 million) for the Greater Cairo Metro Line No. 4 Phase 1 Project (II) on 26th December 2022.

The ODA was sanctioned for a repayment period of 40 years with a 10 years grace period. The Annual Interest Rate is 0.1 % and 0.01% on Project and Consultancy Services respectively.

As a continuation of the Greater Cairo Metro Line No. 4 Phase 1 Project, the objective of this project is to meet transportation demand, mitigate traffic congestion, and improve air pollution in the Greater Cairo Area by constructing a new metro (approximately 19 km in length) in the south-west of Greater Cairo and in the city center of Cairo. This project will contribute to the achievement of SDGs (Sustainable Development Goals) Goals 9 (Industry, innovation and infrastructure), 11 (Sustainable cities and communication), and 13 (Climate action).

The Special Terms for Economic Partnership (STEP) scheme will apply to the Japanese ODA loan for this project, and Japanese systems and trains will be installed at the metro being constructed under the project.

The new Cairo Metro Line 4 will connect the Hadayek El Ashgar station in 6th of October City, to the Malek El Saleh station in New Cairo.





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