The European Bank for Reconstruction and Development (EBRD) is providing a €250 million loan to the Egyptian government as part of its "Green Cities" programme. The funding will be used to upgrade and electrify a railway line between the port city of Alexandria and the city of Abu Qir in the north-east of the country.
The European Bank for Reconstruction and Development (EBRD) is signing a €250 million agreement with the Egyptian authorities to finance green mobility between the cities of Abu Qir, with a population of 38,000, and Alexandria, 219 km from the capital Cairo.
The initiative is part of the implementation of the EBRD’s “Green Cities” programme which, in the case of Egypt, will encourage the reduction of carbon dioxide (CO2) emissions and traffic jams. In addition to the transport sector, the two partners signed two other agreements in the green hydrogen and tourism sectors for the period 2022-2027. This period will accelerate green projects in the main urban areas of the country of the pharaohs.
Building sustainable cities
“Alexandria is a fast-growing industrial city, home to 5 million people and Egypt’s largest seaport, handling 75% of the country’s imports and exports. Therefore, there is a strong need for green investments, including energy efficient transport modes,” says the EBRD.
The Green Cities programme was launched by the EBRD to enable cities to solve their environmental problems and improve the quality of life of their inhabitants. The programme is supported by the Taiwan-Business-EBRD Technical Cooperation Fund and the Austrian Federal Ministry of Finance through the EBRD-administered Urban Regeneration and Environment Fund (Create). In 2021, for example, the programme has included the City of October 6, located in the urban area of Cairo.
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The Alexandria metro project, which will be managed by a private operator, will benefit from an improvement in the city’s air and noise levels. According to decision-makers, the electrification of the line will allow for a shift from polluting road transport to a sustainable transport network, which will contribute to the reduction of greenhouse gas (GHG) emissions.