Previous Story
Egypt Set to Receive €145m from the Africa Development Bank to Bolster Railway Safety and Reliability
Posted On 08 Apr 2021
By Richard Adorsu-
Cairo, Egypt
Photo Credit: iStock
NEW AFRICA BUSINESS NEWS (NABN) Accra- The African Development Bank (AfDB), approved a loan of €145 million to finance reliability and performance upgrades to the country’s rail system under the Egypt National Railways Modernization Project (ENRMP). The funding will be used to enhance operational safety and to increase network capacity on national rail lines.
Dr. Rania A. Al-Mashat, Egypt’s Minister for International Cooperation said, “Safe, accessible, convenient and green transport systems will be crucial to achieving sustainable development. The improvement and expansion of Egypt’s rail system through the ENRMP allows for active mobility and enables the urban and rural development through an inter-modal linked system. Technology and innovation, and a robust commitment to public transport will all be vital
components of building back better.”
Rail transport is central to Egypt’s economy and competitiveness. Rail passenger and freight traffic are expected to increase to 15% and 10% respectively by 2029 as a result of the Bank’s loan and other investments in the project. Currently, 8% of passenger traffic and 6% of freight traffic respectively move by rail. The planned upgrades are expected to benefit low-income Egyptians, about 40% of the population, who rely on trains as an affordable mode of transport. Increasing train freight is projected to have a positive impact on greenhouse gas emissions.
The Government of Egypt has committed significant investment to upgrade the country’s railway infrastructure through rail renewals, modernization of signaling and the purchase of new rolling stock. Under the ENRMP a state-of-the-art, cost effective train protection system will be installed on 950 km of train line along the busy routes connecting Alexandria in the north to Negh Hammadi in the south, and Port Said in the east.
“The newly approved project will enhance the multimodal transportation environment in Egypt, and the efficient movement of people, services and goods,” said Malinne Blomberg, the Bank’s Deputy Director General for the North Africa region. “This operation is fully aligned with the Bank’s strategy for interventions in Egypt, contributing to sustained and inclusive economic growth, and more specifically, developing infrastructure that supports expansion of the private sector and job creation,” she added.
For New Africa Business News Richard Adorsu Reports, Africa Correspondent
Facebook: newafricabusinessnews.com
Email: Info@newafricabusinessnews.com
AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com
Beautiful report Richard. I love the great job that African development bank is doing all over Africa. Daniel in Lagos Nigeria
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
African development bank is a great bank for our great Continent. Johannesburg in South Africa. Langa
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Love you team of journalists and the great new Africa business news. You guys are winning the mind beautiful game. Thank you very much for covering our all parts of Africa. Kayla in Addis Ababa, Ethiopia
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for the newsletters and thank you for saving tax payers lot of money. Love you guys. Lusaka Zambia. Simon
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you very much for covering our whole Continent. Business is growing, thank to the Africa free trade. James in Kampala, Uganda
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Love new Africa news and this online newspaper is winning, has being the winner. Continue winning. You are the best. Morris in Nairobi, Kenya
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Thank you for saving our tax payers lot of money, that we don’t have. Calvin in London, England
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com
Africa development bank is doing a great job in our Country. Cairo Egypt. Fatima
Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com