RIYADH: Egyptian President Abdel Fattah El-Sisi has approved a $307.68 million loan from the Japanese International Cooperation Agency to implement the first phase of Cairo Metro's fourth line, according to the country’s State Information Service.
The decree was published in the Official Gazette on Thursday.
The agreement was signed on Dec. 26, 2022, and the parliament approved the loan agreement in April 2023.
According to JICA, the loan will be repaid at a 0.1 percent annual interest rate over 30 years with a 10-year grace period.
The first phase of the fourth line will stretch over 19 km and include 16 stations, connecting Cairo’s downtown district to Giza Pyramids and the Grand Egyptian Museum, the press statement added.
The stretch is scheduled to start operating in February 2028.
