EIB invests €1.2m for Technical Assistance to support upgrade of Cairo Metro Line 2
The European Investment Bank (EIB) has signed a €1.2 million Technical Assistance agreement with the Egyptian National Authority for Tunnels to conduct a Feasibility Study for the rehabilitation of Cairo Metro Line 2.
The study, which is funded through the Economic Resilience Initiative (ERI), will define and describe the upgrade and renewal of the Line 2 systems, including infrastructure and rolling stock, necessary to meet the capacity and passenger demands of the coming years; and to extend the life expectancy of the system for 25 more years.
The EIB’s technical assistance comes in the context of the overall Egyptian government’s plan to improve the performance of the Public Transport System in Cairo, including the renovation and upgrade of Cairo Metro Line 2.
The advisory services will mobilise consultants to do a survey of the current state of all systems and structures of line 2 of the Cairo metro network, and then prepare a functional design and tender documentation to allow the National Tunnel Authority to start procurement of the works.
The EIB’s Economic Resilience Initiative (ERI), approved by the EU Member States in 2016, consists of an integrated package of loans, concessional finance and innovative instruments designed to enable financing of an additional ¢15 billion of investments on top of schemes already planned.
Resilience Initiative Trust Fund (ERI TF), The Economic Resilience Initiative Trust Fund (ERIF) aims to support resilient and inclusive growth in Europe’s Southern Neighbourhood and the Western Balkans. Donor contributions help to unlock investments that can create new opportunities in the regions, especially for vulnerable groups, including young people and women.