On Monday, the World Bank Group said that it agreed to provide Egypt with USD 400 million to develop the transportation sectors and logistics and support the shift towards lower carbon emissions. The said project will likely focus on developing a railway bypass in Egypt’s Alexandria- the 6th of October-Great Cairo Area railway corridor.

It would allow enhanced freight capacity and decongesting areas with high demand for passenger trains.
According to the World Bank, Egypt’s transportation sector is the second largest contributor to greenhouse gas (GHG) emissions, at around 19 per cent. The group estimates the railway project would reduce emissions by 965,000 tonnes over 30 years.

The international body also said that it supports the Egyptian government’s effort to promote private sector participation in improving its railways by creating a system similar to road tolls, permitting privately-owned trains to operate on national tracks for a fee.

On Monday, Egypt’s ministry of international cooperation reported that the ongoing development finance portfolio between Egypt and the World Bank includes 15 projects worth USD 5.7 billion. It includes social security, healthcare, entrepreneurship, and transportation initiatives.