The cabinet on Wednesday approved a 362 million euro agreement between Egypt and the International Bank for Reconstruction and Development for a project to develop Egypt’s railways signed in April. The World Bank’s Board of Executive Directors in March approved a US$440 million loan to support Egypt’s initiatives to enhance the safety and service quality of the country’s railways. The Railway Improvement and Safety for Egypt (RISE) total project cost is $681.1 million, including $241.1 million contributed from the Egyptian National Railways (ENR). The ENR network comprises of over 5,000 km of rail tracks and primarily offers passenger services for low-income Egyptians. About 270 million passengers took trains in 2019, up from 228 million in 2015 and 247 million in 2010.

Source: Egypt Independent May 26, 2021 13:52 UTC