Egypt and Japan signed on Tuesday a 41 million yen ($301 million) loan agreement as the second tranche of a development financing to fund the Greater Cairo Metro Line No.4 Phase 1 Project.
The agreement was signed by Minister of International Cooperation Rania Al-Mashat, Transport Minister Kamel Al-Wazir, Japanese Ambassador to Cairo Oka Hiroshi and Chief Representative of the Japanese International Cooperation Agency (JICA) Shino Masao, according to a statement issued by the Embassy.
Under this cooperation, the statement added, the Special Terms for Economic Partnership (STEP) conditions are applied and the Japanese railway technology will be used to support the construction of an underground railway (16 stations, approximately 19 km) connecting central Cairo, the Giza Pyramids and the Grand Egyptian Museum.
This second loan is following the first tranche 32.717 billion yen granted in March 2012 to advance the construction of the Greater Cairo Metro line 4, the statement added.
