UKEF backs biggest overseas infrastructure financing for Egypt rail project

AdobeStock_rail_575x375_22Jan2021
By Mariam Meskin
22 Jan 2021

UK Export Finance, the UK's export credit agency, has provided its largest ever overseas infrastructure guarantee to support the construction of two new monorails in Egypt. JP Morgan is leading a group of commercial lenders in providing the funding.

UKEF is providing a £1.7bn guarantee to a Bombardier-led consortium, which will build the trains in the UK for monorails in the Cairo area.

That is equivalent to 80% of the 17 year $2.56bn funding raised for the project. Egypt borrowed the money from commercial lenders via its National ...

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