Egypt’s PM: Japan to Fund 4th Line of Cairo Metro with over $700 Mln

Japan will provide funding worth 100 billion Japanese yen (around $733 million) to Egypt in the third tranche to finance Cairo’s fourth metro line, Egyptian Prime Minister Mostafa Madbouly said on Sunday.

Madbouly made the remarks as he and Prime Minister Fumio Kishida chaired the Egypt-Japan Business Forum.

The agreement to fund the first phase of Cairo Metro's fourth line was signed earlier today and was attended by both Kishida and President Abdel-Fattah El-Sisi.

The Japanese funding of Cairo Metro's fourth line is one of the largest packages to support the plan to develop transportation in Egypt, Madbouly noted.

The fourth phase of the metro will help link Sixth of October City and the archaeological area around the Great Pyramids with the underground train network, the Egyptian PM explained.

Egypt has been cooperating with Japan to implement the first phase of the fourth metro line over the past decade via four concessional loans provided by the Japan International Cooperation Agency (JICA) to the Egyptian state.

Egypt obtained the first tranche of the funding, worth 32.7 billion yen, in 2012; and signed the agreement on the second tranche, worth 41 billion yen, in December last year.

The new line will start operating in February 2028, according to a previous statement by JICA.