CAIRO - 18 September 2019: Egypt's Cabinet approved on Wednesday a €940,000 grant offered by the European Bank for Reconstruction and Development to upgrade rail freight transport.
The approval came during the weekly Cabinet meeting headed by Prime Minister Mostafa Madbouli.
Under the grant, new consultants will be appointed to the Railway Authority to transform the existing rail freight unit into an independent company that will cooperate closely with the rest of the units.
Also, the Cabinet approved a draft resolution as regards to a €555,343 grant from the European Bank to the Investment Ministry to renew the locomotives of the Railway Authority. The agreement involves the purchase of 100 locomotives.
Furthermore, the Cabinet approved the fourth amendment to a $4 million grant agreement between Egypt and the U.S. to boost scientific and technological capabilities and increase the scope of scientific cooperation for peaceful purposes.
The Cabinet also approved a draft resolution on the rules and procedures necessary to implement the provisions of the law regulating road transport services for passengers using information technology.
Wed, Sep. 18, 2019
