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Egypt enters EUR8.5 million financing agreement with Austria to support ENR [free access]

August 9, 2021

The Government of Egypt has entered into a EUR8.5 million development financing agreement with the Government of Austria for the Egyptian National Railways (ENR). The funds will be used to purchase machinery and equipment, including four maintenance machines, to develop Egypt’s railway system. These funds will also be used for the development of metro lines, the construction of national road projects, and the modernisation of the railway network. The agreement is expected to improve railway safety, reduce the number of accidents, cut maintenance costs,  increase operational efficiency, and raise the number of operational trains.

 

(1 EUR [Euro] = 1.10 USD)