Saudi Press

Saudi Arabia and the world
Thursday, Jul 18, 2024

Kishida, El-Sisi discuss loan to improve Cairo’s public transportation

Kishida, El-Sisi discuss loan to improve Cairo’s public transportation

Japan’s Prime Minister Fumio Kishida and Egypt’s President Abdel-Fattah El-Sisi have discussed a loan of up to $732 million (100 billion yen) to support a new project named the Greater Cairo Metro Line.
Hiroshi Oka, ambassador extraordinary and plenipotentiary of Japan to Egypt, and Rania Al-Mashat, minister of International Cooperation of Egypt, were also present at the meeting.

According to a statement from Japan’s foreign ministry, Egypt faces chronic traffic congestion because of an increase in population and automobile use.

The Egyptian government has been promoting the decentralization of the population in existing urban areas by constructing satellite cities with industrial and residential areas in the suburbs of the Cairo metropolitan area.

The expansion of these urban areas is impacting transportation between cities, making it urgent to improve the network, the statement said.

The project aims to alleviate increasing traffic congestion by building a new subway system in the southwestern part of the Cairo metropolitan area.

The terms of the loan include repayment over 40 years, with a 10-year grace period, and a 0.1 percent interest rate per annum.

In 2016, El-Sisi visited Japan and confirmed the possibility of future cooperation for the development of public transport in Egypt.

Related Articles

Saudi Press
Japan to Allocate $3.3 Billion to Ukraine Using Frozen Russian Assets
Google and Microsoft Now Consume More Power Than Several Large Countries
Increased Security for Trump After Assassination Threat
New AI Chipset Set to Revolutionize ChatGPT
Thai-Saudi Investment Roadshow Yields 100 Partnerships
Trump Media Shares Surge Following Re-Election Bid Boost
Russia's Electronic Warfare Neutralizes Western Weapons in Ukraine
Trump Challenges Biden to Debate and Golf Match
Macron Accuses Israeli Minister of Election Interference
US Senator Highlights Weaknesses in Western Military Industry During Ukraine Conflict
George Clooney Urges Biden to Withdraw from Presidential Race
Political Shift in the UK: A Detailed Analysis of Labour's Victory and Future Prospects
Viktor Orbán's Peace Mission: A Diplomatic Controversy in the EU
UAE Court Sentences 43 to Life Imprisonment Over Terrorist Links
Spain PM Pedro Sanchez Denounces Double Standards on Gaza at NATO Summit
Biden Affirms Commitment To Presidential Race
Putin Hosts PM Modi for a Private Meeting
2024 Predicted to Be World's Hottest Year
Iran's President-Elect Masoud Pezeshkian Reiterates Support for Hezbollah
Biden Insists on Continuing Presidential Race Amid Criticism
Macron Faces New Political Challenges Despite Election Relief
US Officials Resign Over Biden's Gaza Policy
Campaigners Push for Emergency Uplift Visa for Palestinians Escaping Gaza Conflict
Netanyahu Criticizes Release of Gaza Hospital Head
UK Government and British Airways Sued Over 1990 Kuwait Hostage Incident
Afghan Women's Rights Declared Internal Issue by Taliban
UK Appeals to ICC May Delay Arrest Warrants for Israeli Leaders
ZATCA Allows Non-citizens to Participate in Auctions
UK Investors Encouraged to Enter Saudi Sports Market
Saudi Arabia's Remarkable Position for Sustained Economic Growth
Iran's Presidential Election: A Close Race
Iran Threatens Retaliation if Israel Attacks Lebanon
EU Enforces Sanctions on Hamas Financiers
Turkey Removed from Financial Watchdog's Grey List
WikiLeaks Founder Julian Assange Returns to Australia as a Free Man
Chaotic Portugal Win Over Turkey at Euro 2024
United States Bans Kaspersky Antivirus
Global Displacement Crisis: Record Numbers in 2023
White House Cancels US-Israel Meeting Amid Netanyahu's Accusations
Hezbollah Chief Threatens All of Israel Amidst Escalating Conflict
Muslim Community Leader Criticizes Nigel Farage for Undermining Muslims
Canada Lists Iran's Revolutionary Guards as Terrorist Group
Iran Sentences Nobel Laureate Narges Mohammadi to 1-Year Prison Term for Propaganda
Good day, everyone! We've got a lively mix of stories today, from financial recoveries and international sanctions to...
Giorgia Meloni Comments on Israel's Conflict and EU's Stand on Ukraine Loan
Israel Plans Tactical Pause For Aid Deliveries in South Gaza
Giorgia Meloni Comments on Israel's Conflict and EU's Stand on Ukraine Loan
Over 1.5 Million Pilgrims Arrive in Mina for Hajj
Japan Considers Sanctions on UAE-Based Entities for Aiding Russia
Global Headlines: Pope’s Plea on AI, Tensions in Ukraine, and Japan’s Sanction Strategy