Sun, 2023-04-02 15:30
CAIRO: The Islamic Development Bank on Saturday approved $403 million for different projects in member countries, the bank said in a statement.
A big chunk of the funds — $344.5 million — has been approved for the first phase of Egypt’s electric express train project.
The 660-km railway project will connect the Egyptian port cities of Ain Sokhna on the Red Sea to Marsa Matrouh and Alexandria on the Mediterranean. It will benefit 25 million people annually and decrease carbon emissions by approximately 250,000 tons annually.
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