Egyptian President Abdel Fattah El-Sisi has issued a new decision regarding the cooperation agreement to fund consultancy works for the extension of Cairo Metro Line 1. The decision was published in the official gazette on Thursday, October 1, 2026. According to the decision, the agreement was made between the Egyptian government and the European Investment Bank, with a grant value of 1.5 million euros.
The decision was made in accordance with Article 151 of the Egyptian Constitution, which states that the President represents the state in external relations, signs treaties, and ratifies them after approval by the House of Representatives. The agreement will come into effect on the date that the Ministry of Planning, Economic Development, and International Cooperation notifies the European Investment Bank of the Egyptian Parliament's ratification of the agreement.
The extension of Cairo Metro Line 1 is considered one of the priority climate projects presented by Egypt during COP 27 in Sharm El-Sheikh in November 2022. The project was presented as part of the climate finance initiative "water, food, and energy axis." Egypt and the European Investment Bank signed a partnership agreement for co-financing Novi transport priorities, with a commitment of 1.5 billion euros from the European Investment Bank.
Other international financial institutions, such as the European Bank for Reconstruction and Development, have committed 500 million euros, while the French Development Agency has committed another 500 million euros. The Asian Infrastructure Investment Bank has also expressed interest, but no specific amount has been committed yet. The project aims to improve public transportation in Cairo and reduce carbon emissions.
The agreement with the European Investment Bank is a grant, not a loan, and is valued at 1.5 million euros. This grant will be used to fund consultancy works for the extension of Cairo Metro Line 1. The project is expected to have a positive impact on the environment and the economy, as it will improve transportation services and create new job opportunities.
The extension of Cairo Metro Line 1 is a significant project that will improve the overall transportation network in Cairo. The project is part of Egypt's efforts to develop its infrastructure and improve the quality of life for its citizens. The government has been working to improve public transportation in Cairo, including the expansion of the metro system.
The decision issued by President El-Sisi is a significant step towards the implementation of the project. The agreement with the European Investment Bank is expected to facilitate the project's progress, and the consultancy works are expected to begin soon. The project is expected to be completed in the near future, and it will have a positive impact on the city's transportation network.
Key points
- President Abdel Fattah El-Sisi issues decision on cooperation agreement with European Investment Bank to fund consultancy works for Cairo Metro Line 1 extension.
