President Abdel Fattah El-Sisi has issued a presidential decree approving a government loan agreement for the third phase of the Tenth of Ramadan City Railway project.
This decree follows the constitutional procedures stipulated in Article 151 of the Constitution, which authorizes the President to represent the state in foreign relations and conclude treaties.
The agreement also received prior approval from the Council of Ministers and was officially ratified by the House of Representatives during its session held on March 2, 2026.
The decree, which was published in the Official Gazette this Thursday, confirms a concessional loan agreement between the Government of the Arab Republic of Egypt and the Export-Import Bank of China (Exim Bank).
The loan, valued at $200 million USD, is specifically earmarked for the third phase of the Tenth of Ramadan railway infrastructure development.
Notably, the terms of the agreement stipulate that the loan is to be repaid in Chinese Yuan, marking a strategic step in bilateral financial cooperation.
