Cairo airport gets loan
25 February 2010
Cairo international airport in Egypt has received a US$ 280 million loan from The World Bank's International Bank for Reconstruction and Development (IBRD).
The bank said the funding, for a second terminal (TB2) at the airport, had been provided to assist Egypt to increase the capacity of Cairo international airport.
A spokesman from The World Bank said, "This 28 year loan aims to support Egypt's air transport sector, which is high strategic for the country's economic development.
"Furthermore, the project will enhance Cairo airport's capability to serve as a hub for long-haul traffic on some of the most rapidly expanding routes, such as between Africa and Asia, thus contributing to enhance the Egyptian air transport industry's competitive edge while facilitating regional integration."