January 16, 2019 / 11:00 AM / a year ago

Egypt secures $1.2 bln from Exim Bank of China for light rail to new capital -minister

CAIRO, Jan 16 (Reuters) - Egypt agreed a $1.2 billion deal with the Export-Import Bank of China (EximBank) to finance a light rail system from an industrial city on the outskirts of Cairo to a new capital it is building, the transportation minister said.

The loan has a 1.8 percent interest rate and matures in five years, the minister said. $461 million will be for infrastructure and $739 million for the trains.

Reporting by Momen Saeed Atallah; Writing by Yousef Saba Editing by Louise Heavens

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