Japan will finance the third tranche of the first phase of Line 4 of the Greater Cairo Metro, with a total investment value of 100 billion Japanese yen, which accounts for more than $730 million.

This was during the Egypt-Japan Business Forum which was chaired by Egyptian Prime Minister, Mostafa Madbouly and Japanese Prime Minister, Fumio Kishida, in the presence of a number of ministers and officials of the two countries.

The investment to implement the first phase of the fourth metro line is happening through four concessional loans provided by the Japan International Cooperation Agency (JICA).

This metro line will link 6th of October City and the archaeological area around the Great Pyramids with the underground train network.

Egypt received the first tranche of the funding, worth 32.7 billion yen, in 2012 and signed the agreement on the second tranche, worth 41 billion yen, in December last year.

Madbouly highlighted that the cooperation between Egypt and Japan has witnessed steady growth in recent years, with Japanese direct investment in Egypt increasing by approximately 52% in 2021, with an investment portfolio of about $3 billion for the implementation of more than 18 projects. There are 87 Japanese companies currently operational in Egypt.