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01:10
Egypt approves 400 mln USD loan from WB for logistics project
STORY: Egypt approves 400 mln USD loan from WB for logistics project
DATELINE: Sept. 22, 2023
LENGTH: 00:01:10
LOCATION: Cairo
CATEGORY: ECONOMY/SOCIETY
SHOTLIST:
1. various of Cairo
2. various of Egyptian President Abdel-Fattah al-Sisi
3. various of trains and railroads in Egypt
STORYLINE:
Egyptian President Abdel-Fattah al-Sisi approved on Thursday a 400-million-U.S. dollar loan agreement with the World Bank for a logistics project aimed at enhancing trade between Cairo and Alexandria.
According to the terms of the agreement, this amount can be converted into other currencies as needed to support the project's financing.
The project involves the refurbishment of the railway sector, project implementation, private sector participation, railway sector reform, and the development and adoption of a transparent fee collection plan for the use of the Egyptian railway infrastructure.
It also includes the expansion of railroads, the modernization of railway signal systems, and specific track upgrades to create a railway branch around the Greater Cairo area.
Xinhua News Agency correspondents reporting from Cairo.
(XHTV)
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