Arab Finance: The Egyptian House of Representatives has authorized two $460.4 million financing agreement between the Egyptian government, the Export-Import Bank of Korea (Korea Eximbank), and the Islamic Development Bank (IsDB) and its institute (IsDBI) in the field of sustainable transport and development, a statement showed.

The first agreement between the Egyptian and Korean governments covers the manufacturing and supply of 320 railcars for Cairo Metro Lines 2 and 3, with the aim of boosting the sustainable transport sector.

On the other hand, the second grant agreement between the Egyptian government and IsDB, which is worth $400,000, aims to improve the livelihood of the citizens of South Sinai’s Dahab city.

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