Agreement Between Egypt and Japan to Support Egyptian Transport

The Egyptian Cabinet announced today, Sunday, that Cairo has signed a financing package with Tokyo aimed at supporting the transport development plan in Egypt. This package, valued at 100 billion Japanese yen (734 million dollars), will contribute to the expansion of the Cairo Metro, which will help connect the Sixth of October City and the archaeological area of the Pyramids to the metro network. Egyptian Prime Minister Mostafa Madbouly stated during a meeting of the Egyptian-Japanese Business Forum: "The cooperation portfolio between Egypt and Japan has seen steady growth in recent years, with the total amount of Japanese grants and loans reaching approximately three billion dollars for the implementation of more than 18 projects." In the area of trade and investment, Madbouly noted that "Japanese direct investments in Egypt increased by about 52 percent in 2021, with around 87 Japanese companies currently operating in Egypt."