Arab Finance: The Egyptian National Authority for Tunnels (NAT) is seeking to secure an EGP 17 billion loan from a consortium of local banks to finance the construction of Cairo Metro Line 4, three sources familiar with the matter told Asharq Business.

The consortium is led by Banque Misr and the National Bank of Egypt (NBE), the sources said.

The government is currently working on deciding upon the banks participating in the financing, one source noted, expecting the completion of all the procedures within the first quarter (Q1) of 2024.

The source anticipates the disbursement of the loan to take place in April 2024.

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