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Summary sheet

Release date
22 October 2022
Status
Reference
Approved | 17/11/2022
20170694
Project name
Promoter - financial intermediary
CAIRO METRO LINE 2 UPGRADING AND RENOVATION
NATIONAL AUTHORITY FOR TUNNELS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 240 million
EUR 614 million
Location
Sector(s)
Description
Objectives

The project consists of the rehabilitation of the existing metro line 2 of the Cairo metro network. The rehabilitation includes the renewal of the signalling system, power supply and parts of the tracks. Allocation under Framework Loan (FL) 2020-0144.

The project is expected to deliver significant time savings to existing users of metro line 2 and to provide additional capacity to accommodate an increasing demand that would otherwise be absorbed by less environmentally friendly modes of transport. The upgrade of the metro line will improve the reliability of the existing metro service and further reduce headways during peak hours. It will represent a fast and affordable transport solution to the population, in particular to those who cannot afford owning a private car. Furthermore, the project will result in vehicle operating cost savings, lower air emissions and less accidents stemming from the expected modal shift from road to public transport.

Additionality and Impact

The project is the rehabilitation of Cairo metro Line 2 to ensure continue reliable and safe metro operations and add much needed extra transport capacity. The project will improve the role of public transport in Cairo and promote sustainable mobility for its citizens. By supporting the shift of traffic from fossil fuelled private cars to collective and electric transport, the project will reduce negative externalities of road traffic (noise and air pollution, greenhouse gas emissions, road accidents and congestion), improving travel times and costs. In addition, the project contributes to more egalitarian access to jobs and study opportunities.


The project shares the development priorities of Neighbourhood, Development and International Cooperation Instrument (NDICI), Global Challenges' Thematic Programme Priority Area 2 on sustainable mobility. The project also contributes to Team Europe Flagship 5 on Connected Economies, to a wide range of Sustainable Development Goals (SDGs) and to the Investment Plan of the Egyptian Ministry of Transport.


The proposed operation has benefitted from substantial EIB advice and expertise and from a technical assistance (TA) funded by the EIB under the ERI TA envelope. EIB participation was key to the preparation of the feasibility study, and will remain important in terms of filling a funding gap and allowing the project to go forward according to the originally foreseen timetable. The project benefits from EIB's advantageous funding terms as it provides long tenor and affordable pricing.

Environmental aspects
Procurement

If the project was located within the EU, it could fall under Annex II of the EIA Directive 2011/92/EC, thus requiring a decision by the competent authority to determine whether a full environmental impact assessment (EIA) has to be carried out. The Bank shall investigate environmental and social aspects during appraisal and verify that the promoter has followed the relevant EU environmental and social principles, standards and practices. The Bank shall also verify the acceptability of the project in terms of likely environmental impacts and proposed mitigation and compensation measures.

The Bank will require the promoter to ensure that any procurement process is consistent with the Bank's procurement guidelines

Under ELM Guarantee
Comments

This operation is covered by the ELM Guarantee.

The Project is part of the Urban Transport Infrastructure Framework, the aim of which is to finance large public transport projects in the cities of Alexandria and Cairo in Egypt over the next 5 years.

Milestone
Approved
17 November 2022
Related projects
Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - CAIRO METRO LINE 2 UPGRADING AND RENOVATION
Publication Date
13 Dec 2022
Document language
Main Topic
Lending
Document Number
156584706
Document Focus
Environmental Information
Project Number
20170694
Sector(s)
Countries
Publicly available
Download now

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