Japan to fund 1st phase of Cairo Metro Line 4 with over $700M
Updated 5/1/2023 10:37:00 AM
Arab Finance: Japan and Egypt have signed a JPY 1 billion (over $700 million) financing package as the third tranche to fund the Cairo Metro Line 4 – Phase 1, Prime Minister Mostafa Madbouly announced on April 30th.
The first phase of the Cairo Metro Line 4 will connect Greater Cairo to 6th of October City, passing by the Grand Egyptian Museum.
The agreement was signed on the sidelines of the Japan-Egypt Business Forum held in the North African country.
Japan is looking forward to boosting its investments in Egypt across several development fields, especially green economy, Japanese Prime Minister Fumio Kishida said.
Kishida noted that his government seeks to further expand the horizon of Japanese companies operating in Egypt to access more countries in Africa and the Middle East.
He also called for joint cooperation between the Egyptian private sector companies and the Japanese companies investing in Egypt to maintain win-win relations between the two countries
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