EIB Lends First €200M For Cairo Metro Expansion

Law360, New York (November 15, 2012, 3:14 PM EST) -- The European Investment Bank has signed documents for the first €200 million ($255.64 million) of what is expected to be a €600 million loan to extend the Cairo metro system, delivering on a new commitment to keep funding flowing to the region in the wake of the country's political turmoil.

The loan documents were signed Wednesday in Cairo, where officials are embarking on a €900 million project to upgrade its 25-year-old transit system by 2020. The project includes two new lines, 28 miles of track and...
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