USD “400M” to fund the Cairo Alexandria Trade Logistics Development Project
Through a new development financing deal granted by the World Bank, which will provide USD 400 million to fund the “Cairo Alexandria Trade Logistics Development Project,” Egypt’s train network and transportation infrastructure will be decarbonized.
The project will deploy low-carbon footprint technology in the Alexandria-6th of October-Greater Cairo Area railway line to reduce the country’s transportation sector’s contribution to greenhouse gas emissions, which is the second highest, by 965,000 tonnes over the next 30 years.
In addition to increasing commercial operations in Egypt through the expansion of Egyptian freight trains, the change in the transportation sector will also make room for female employees by adding childcare services.
Through the donation, the Egyptian government will be able to continue its efforts to promote sustainable development and a green economy, an aim that is getting increased attention on the national level in light of the COP27 United Nations Climate Change Conference taking place in Sharm El Sheikh this November.
