Examples include the Fayoum wastewater expansion project and the Kitchener drain in the Nile Delta, which improved sanitation services for more than one million people. We also help reduce traffic and CO2 emissions in Cairo and Alexandria. We support the rehabilitation and modernisation of public transport by building new metro lines and railways. In Alexandria, we are contributing to the upgrade of the Alexandria Raml train and Abu Qir metro line, which is part of an investment package estimated at €1.6 billion. The funds will be used to carry out signalling upgrades, install improved telecommunications and centralised control systems as well as procure new rolling stock.
Since 2017, the EIB has committed over €100 million of equity risk capital in private equity and venture capital funds. These funds support the growth of start-ups and small businesses across the Southern Neighbourhood countries, including Egypt, and operate across various sectors, including education, healthcare, manufacturing and technology.
More resources to boost entrepreneurship and foster social inclusion are mobilised through our intermediaries. In recent years, the EIB has provided almost €4 billion of financing for SMEs and mid-caps in Egypt by partnering with seven Egyptian banks. By early 2021, more than 3 300 companies benefited from EIB funding, helping to sustain 225 000 jobs. In response to the COVID-19 crisis, we stepped up support to Egyptian private businesses, with €1.6 billion of financing offered since May 2020.
Egypt has also benefited from our support through the Economic Resilience Initiative (ERI), fostering inclusive, resilient and sustainable economic development.