EBRD Promotes Greener Urban Transport in Egypt

EBRD Promotes Greener Urban Transport in Egypt (News Central TV)

The European Bank for Reconstruction and Development (EBRD) is supporting the development of greener public transport in Egypt by financing the upgrade of an existing rail line between downtown Alexandria and the north-eastern town of Abou Qir.

Alexandria is a fast-growing industrial city, home to 5 million inhabitants and Egypt’s largest seaport, handling 75 per cent of the country’s imports and exports. Consequently, it has a significant need for green investment, including energy-efficient modes of transport.

The upgrade will improve the quality of public transport for Alexandria’s burgeoning population and improve the city’s air and noise levels. The electrification of the line will result in a modal shift from more polluting, road-based methods of transport to a sustainable, electric transport network. It will thus contribute to significant reductions in greenhouse gases (GHGs) and air pollutants.

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The Alexandria metro project aligns with the Bank’s Green Economy Transition (GET) approach and reflects the efforts of the Egyptian government to shift to greener transport and transition to a green economy. It is also consistent with the EBRD’s country strategy for Egypt, which prioritises the acceleration of the country’s green economy transition, in close cooperation with the Egyptian government and in line with its recently launched, ambitious reform programme.

Under the EBRD Green Cities programme, the Bank will extend a €250 million loan to co-finance the upgrade of the infrastructure and electrify an existing rail line, making it the first high-capacity metro line in Alexandria. The improvements will cover the requisite rail systems, including signalling, telecommunications and centralised controls, as well as the rolling stock for the new line.

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The investment will support Egypt’s transition to an energy-efficient, low-carbon economy, decrease CO2 emissions and reduce congestion. The upgraded line will also improve public services, significantly increasing capacity and the level of service needed to cater to future demand.

The EBRD’s funds are part of a €1.76 billion package co-financed by the European Investment Bank, Agence Française de Dévelopement and Asian Infrastructure Investment Bank.

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