Loan from the Japan International Cooperation Agency is to fund Cairo's fourth metro line
Egypt will receive a US$392m loan from the Japan
International Cooperation Agency (JICA) to fund the construction of Cairo's
fourth metro line, Egypt's planning minister said on Monday after signing the
The amount is the first tranche of a US$1.28bn loan that carries an interest rate of 0.2 per cent, Planning and International
Cooperation Minister Faiza Abu El-Naga said.
The new line, costing an estimated EGP15bn(US$2.49bn), is to run from the northwestern suburb of Sixth of
October City via the site of a new Egyptian museum near the Pyramids of Giza to
a district south of downtown.
Construction is set
to begin in September and expected to take seven years to finish. Egypt last
month inaugurated the first phase of the third line, running from the city centre
to the airport in the northeast.