By lyndamyer
A €145m loan has been approved by African Development Bank (AfDB) for funding key railway upgrade works in Egypt.
The Egypt National Railways Modernization Project (ENRMP) is responsible to improve operational safety and enhance network capacity on national rail lines by using this determined budget.
The ENRMP intends to set up a train protection system on 950km of rail line along the busy routes that links Alexandria in the north to Negh Hammadi in the south, and Port Said in the east.
AfDB North Africa deputy director-general Malinne Blomberg said: “The newly approved project will enhance the multimodal transportation environment in Egypt, and the efficient movement of people, services and goods.”
He also asserted: “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 the expansion of the private sector and job creation.”
The attempts for boosting the national railway infrastructure is in process by the Egyptian Government, for example a $14.36bn budget has been awarded for accelerating development works as well as minimizing the risks of train accidents in last month by government.
By covering 8% of passenger traffic and 6% of freight traffic movement, Rail transport plays a significant role in Egypt’s economy and it is estimated that these quantities will reach 15% and 10% respectively by 2029.
“Safe, accessible, convenient and green transport systems will be crucial to achieving sustainable development,” stated Dr Rania A Al-Mashat, Egyptian Minister of International Cooperation.
Moreover, a loan with the value of $440m has been allocated for rail improvement works in Egypt by World bank in previous month.
