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Egypt continues to develop its metro network with President Abdel Fattah El-Sisi's approval of a new financing agreement to extend the first metro line, worth 1.5 million euros from the European Investment Bank. This is part of a broader project focused on promoting sustainable transportation as part of the international initiative to finance climate action at COP 27. The goal is to improve infrastructure and reduce pollution in Cairo. The agreement becomes effective once ratified by the Egyptian Parliament, and its implementation timeline depends on the notification from the Ministry of Planning and Economic Development. The funding includes joint projects with other international institutions.
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