Arab Finance: President Abdel Fattah El-Sisi issued the presidential decree No.194 of 2022 ratifying the €776.9 million loan agreement signed between Egypt and France, Middle East News Agency (MENA) reported on November 24th, citing the Egyptian Gazette.
On March 28th, Egyptian Ministry of International Cooperation signed a loan agreement with the government of France at a value of €776.9 million to finance the supply of 55 trains for Cairo Metro’s Line 1.
The loan will also contribute to financing the development and upgrade works of equipment and warehouses of the Metro’s first line.