World Bank loans $280m for Cairo air transport
24 February 2010
A loan to support Cairo's transport infrastructure has been approved by the World Bank's board of executive directors yesterday (February 23rd).
Worth $280 million (£181 million), the loan will support the Cairo Airport Development Project for its second terminal building.
It is hoped that air transport on a national and international level will benefit as a result.
Already the country's largest airport, the Cairo International Airport is also Africa's second largest hub.
"This project follows up on the Airport Development Project approved in 2004 and serves as a good example of the strong and fruitful partnership between the government of Egypt and the World Bank," said country director for Egypt, Yemen and Dikibouti A. David Craig.
World Bank task team leader Michel Bellier explained that up to 7.5 million passengers may be able to benefit from the latest project each year.
The airport notes that it came to being in the 1940s following the establishment of the American Bayn Field air-force base, which was left behind after the Second World War.