Al-Sisi approves Chinese railway loan

President Abdel Fattah El-Sisi approved a preferential loan agreement worth $42 million from the China Export and Import Bank to finance the third phase of the Monorail project in 10th of Ramadan City. This comes as part of the state's plan to develop the mass transit network and improve railway infrastructure, aimed at supporting urban and industrial development in new areas. The President ratified the agreement after approval by the House of Representatives, with the funding intended to enhance the efficiency of transportation services in the region.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article