Egypt's Prime Minister and Minister of Housing and Development Mostafa Madbouli - Press PhotoCAIRO - 16 January 2018: Prime Minister Moustafa Madbouli on Wednesday attended the signing of an agreement between Egypt and China Eximbank for providing a loan of $1.2 billion to Egypt.The funds will be used for implementing the project of an electric train linking the areas of Al Salam and 10th of Ramadan with the New Administrative Capital.Attending the signing ceremony were Minister of Investment and International Cooperation Sahar Nasr and Minister of Transport Hisham Arafat.The new line will serve up to 350,000 citizens, said Arafat after the signing ceremony.He added that the train will operate at 120km/h speed covering a space of around 67 km.The project reflects how far relations between Egypt and China are strong, he said, adding that President Abdel Fattah El Sisi is keen on promoting bilateral relations.

Source: Egypt Today January 16, 2019 15:45 UTC