Egypt’s Transport Minister Asks to be Isolated: Seeks Loan Approval

Egyptian transport minister Kamel al-Wazir commented on receiving loans to set up transport projects, saying: “If you spend money on unimportant things, lock me up, the loans we receive are development loans.

And the Minister of Transportation added during a tour with journalist Ahmed Moussa on the Under My Responsibility program on the Sada al-Balad satellite channel on Saturday evening at the Adly Mansour Central Transfer Station that the loans received are soft and for large and well-known grace periods.

Lieutenant General Kamel Al Wazir continued that government loans or loans from international banks do not service the debt, explaining that the loans we receive are used in development projects and bring profit in the future.

And the Minister of Transport added that the loans are paid from the revenues from the operation of public transport, stressing: “We have entered into an agreement with the German Railways for the management and operation of the express train for a period of 20 years.

Lieutenant General Kamel Al Wazir confirmed that all stations will have an investment zone to generate income, stressing that the private sector can invest in projects of the Ministry of Transport.

Source: Cairo 24

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