A 280 million euro financial protocol was recently signed between Egypt and France to back Phase-1 of Cairo Metro third line project, according to reports by the national newspaper Al Ahram.

The phase extends for 4.3 kilometer length served by 5 underground stations. The loan is for repayment over 24 years including 6 years grace and bears an annual interest of 0.2 percent.

Weeks earlier a consortium of French and Egyptian companies were declared winners for the different packages of that phase. Pending is still the package for the rolling stock.