EGP 3 Billion Secured for Egypt’s Public Transport Expansion
Emirates NBD’s funding will support key metro and monorail projects under the National Authority for Tunnels.
Egypt’s public transport infrastructure is set for further development following a new EGP 3 billion financing agreement between Emirates NBD Egypt and the National Authority for Tunnels (NAT). The funding will support ongoing and future projects aimed at expanding and modernising Egypt’s metro and monorail networks.
The agreement was signed by Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, and Tarek Hamed Goueili, Chairman of NAT. This initiative aligns with Egypt’s broader push to enhance sustainable urban mobility, particularly through metro expansions and high-speed monorail projects that connect Greater Cairo to New Administrative Capital and 6th of October City.
Emirates NBD Egypt stated that the investment reflects its commitment to financing strategic sectors that drive economic growth, with public transportation playing a key role in easing congestion, reducing emissions, and improving daily commutes for millions.
Egypt’s public transport sector has seen major developments in recent years, with projects such as the Cairo Metro’s Line 4 extension and the monorail system being among the most significant.
