Finance: Middle East & Africa

Developments in transport finance, PPP, debt, equity, M&A deals from Middle East & Africa

• World Bank allocates funds for Dakar BRT, Senegal

  May 29, 2017
  The World Bank has allocated funding of USD313.5 million for the development of a bus rapid transit (BRT) system in Dakar, Senegal.

• AFD and EIB to finance Raml Tramway; NAT invites bids for consultancy contract

  May 18, 2017
  The Agence Francaise de Developpement (AFD) and European Investment Bank (EIB) have announced plans to provide funding worth EUR280 million (78 per cent) for the rehabilitation of the Raml Tramway in Alexandria, Egypt.

• Dakar TER project secures funding, Senegal [free access]

  April 28, 2017
  Government of Senegal has signed two financing agreements valued at USD215.5 million for the Dakar Train Express Régional (TER) project.

• Nigeria secures loan from EXIM bank for rail projects

  April 6, 2017
  The Government of Nigeria secured a USD6.1-billion loan from Export-Import (EXIM) bank of China to complete its ongoing rail projects by 2019.

• AFD to fund Al Raml tram in Alexandria, Egypt

  March 30, 2017
  France-based Agence Francaise de Developpement (AFD) has announced plans to allocate USD107.87 million for the upgradation of Alexandria Tram system (also known as the Al Raml Tram) in Egypt.

• Abuja LRT secures funding for Phase II; awards contract to CCECC

  March 23, 2017
  The Federal Capital Territory (FCT) in Nigeria has awarded a three-year, USD1.79-billion management contract to China Civil Engineering Construction Corporation (CCECC) for the light-rail transit (LRT) system Phase II in Abuja.

• Lagos to invest in bus fleet upgrade, Nigeria

  March 16, 2017
  The Lagos city government has announced plans to invest USD97 million in replacing its existing Danfo buses (yellow buses) with 5,000 air-conditioned buses over a period of three years.

• AfDB to finance Abuja BRT

  February 20, 2017
  The Federal Capital Territory (FCT) in Nigeria is likely to secure a loan of USD100 million from the African Development Bank (AfDB) for development of the bus rapid transit (BRT) system in Abuja.

• EXIM Bank allocates funds for Tema-Akosombo rail line, Ghana

  December 5, 2016
  The Export-Import Bank of India (EXIM Bank) has allocated USD398.33 million for the design and construction of the Tema-Akosombo rail line in Ghana.

• SRO to provide additional funding for Haramain HSR Phase II, Saudi Arabia

  November 22, 2016
  Saudi Railways Organisation (SRO) has allocated additional funding of USD158 million for the Haramain high-speed rail (HSR) Phase II to the Al-Shoula consortium (comprising Talgo, Indra, Dimetronic, Renfe, Adif and Obrascon Huarte Lain (OHL)) to cover cost escalation due to delays in payment.

• ADFD provides additional funding for Morocco HSR

  November 22, 2016
  Abu Dhabi Fund for Development (ADFD) has allocated USD40 million as the second installment of the concessionary loan to the Office Nationale des Chemins de Fer Du Maroc (ONFC), Morocco's national rail operator, for construction of the 200-km high-speed rail (HSR) line between Tangier and Kenitra in Morocco.

• Mecca Metro project delayed due to financial restructuring

  May 27, 2016
  The USD16.5-billion mass transit project, which involves development of a metrorail system and a bus network, planned for the city of Mecca in Saudi Arabia has been stalled due to ongoing financial restructuring.

• EBRD signs MoU with Egypt government to fund Heliopolis Tram line

  May 11, 2016
  The Ministry of International Co-operation and the European Bank for Reconstruction & Development (EBRD) have signed a memorandum of understanding (MoU) under which EBRD will contribute USD250 million towards the total project cost of USD500 million for the rehabilitation of the defunct 14-km Heliopolis Tram line, which connects Ramses station and Almaza district in Cairo, Egypt.

• Dubai RTA secures FY2016 budget of AED7.609 billion [free access]

  February 16, 2016
  The Roads and Transport Authority (RTA) of Dubai has received annual budget of AED7.609 billion for 2016.

• ILS28.3-billion railway budget approved for Israel [free access]

  February 4, 2016
  The Ministry of Transport in Israel has approved a railway budget, which proposes an investment of ILS28.3 billion up to 2020.

• AfDB approves loan for Casablanca-Marrakech HSR

  January 28, 2016
  The African Development Bank (AfDB) has approved a USD112.3-million loan to the Moroccan National Railways for construction of a second track on part of the Casablanca - Marrakech high-speed rail (HSR) line in Morocco, North Africa.

• DBSA approves ZAR3.5-billion for Gautrain EMUs

  January 26, 2016
  The Development Bank of Southern Africa (DBSA) has sanctioned, in principle, a ZAR3.5-billion loan for the procurement of 48 electrical multiple units (EMUs) for the Gautrain Rapid Rail Link capacity expansion project.

• Casablanca launches transport infrastructure projects worth MAD8.5 billion [free access]

  January 25, 2016
  Transport infrastructure projects worth MAD8.5 billion have been launched in Casablanca, Morocco, as part of the 2015-2020 Strategic Development Plan.

• Cairo Metro awards construction contract for Line 6; secures funding for Line 3 Phase III

  January 4, 2016
  The Ministry of Transportation in Egypt has signed a memorandum of understanding (MoU) with China Railway Construction Corporation (CRCC) to construct the 24-km Cairo Metro Line 6 at a cost of USD3.5 billion.

• EBRD approves loan for Cairo Metro, Egypt

  December 10, 2015
  The European Bank for Reconstruction & Development (EBRD) will provide a EUR100 million loan to the National Authority for Tunnels (NAT) in Egypt to procure 13 train sets for the Cairo Metro Line 2.