in November 2014, EIB Lends EUR 200mln for the Cairo Metro Line and EUR 45mln for Community Development Program. European Investment Bank (EIB), under the European Neighborhood Partnership initiative has concluded 200 Million EUR financing agreement with the National Authority of Tunnels for the construction of the 3rd phase of the 3rd Cairo Metro Line. The project will improve mobility as well as promoting growth and employment.
EIB has forecasted the procurement of Construction Project Management services. The 3rd phase of line 3 includes the construction of 17.7 KM track and 15 stations of the whole 33 KM line 3 which connects Cairo Airport to the west bank of the Nile. Line 3 phase I stretches from Attaba to Abbasia of 4.5 km with 5 stations and Phase II is 7.12 km with 4 underground stations stretching from Abbasia to Al Ahram in Heliopolis. Construction methods used cut and cover for the stations while using tunnel boring machines for the standard sections. Construction Project Management Services is anticipated to control time, cost and quality with a focus on procurement and contracts management to ensure that the later matches with EIB requirements. The project is co-financed by the French Agency for Development.
Additionally EIB has approved 45 Million EUR loan, managed by the Social Fund for Development, for the Community Development Programme which will support community and urban development projects, primarily in urban informal areas, including social and community services, basic infrastructure, housing improvement, as well as microenterprise and SME development. The objective of the programme is the creation of more sustainable communities, promoting more integrated approach to spatial planning and development, improve standards of living and promote employment generation among disadvantaged populations.