Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Egypt
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2017-05-04
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Egyptian National Railways
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Transport
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 163.20 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported EUR 150,000,000.00
Converted using 2017-05-04 exchange rate.
Project Cost (USD): $ 243.71 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.

Currency conversion note:
Bank reported EUR 224,000,000.00
Converted using 2017-05-04 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-06-22
Disclosure Date: 2016-07-20
ENR - Locomotive Renewal Programme
EBRD-48309

Project Description
EBRD is considering a sovereign loan of up to EUR 150 million to the Arab Republic of Egypt, to be on-lent to Egyptian National Railways ("ENR"). The project will support wider sector reform and the purchase of the new diesel locomotives will provide significant benefits to the service offer, in terms of fleet availability, operational efficiencies and reliability.
Investment Description
Contact Information
COMPANY CONTACT INFORMATION Eng. Mohamed Amer - Director, Purchases, Stores and Custom Clearance departmentenr.pscc@gmail.com 0020225761337 https://enr.gov.eg/ Railways Compound, 5th floor, above Shubra Tunnel, Cairo, Arab Republic of Egypt ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.