The Cabinet has endorsed a draft presidential decree approving a financial protocol between Egypt and France that was signed in Cairo on 14 December.
According to a Cabinet statement on Wednesday, the protocol provides a loan of 344 million euros in French financial aid to Egypt to buy trains for the third Metro line, a project jointly funded by the Egyptian government.
Half the value of the announced loan will come via the French treasury and be repayable over 53 years with a 20-year grace period. The other part, worth 172 million euros will be repayable in credit installments to the French Kofax Authority.
When complete, Cairo's third metro line will stretch 43.5 km from Cairo airport to Imbaba in Giza. The third phase of the line will be 18 km in length and include 15 stations.
Edited translation from Al-Masry Al-Youm