Egypt has signed a $1.2 billion loan agreement with the Export-Import Bank of China (EximBank) to finance an electric railway project, the country’s transport minister, Hesham Arafat, announced recently.

Speaking at the deal’s signing ceremony, Arafat’s said that the loan would fund the construction of “Egypt’s first electric train.”

For more information, please see https://www.middleeastmonitor.com/20190116-egypt-borrows-1-2bn-from-china-to-fund-electric-train-project/