Egypt approves AIIB loan to build metro line in Alexandria
Egypt approves AIIB loan to build metro line in Alexandria Longview News-Journal
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STORY: Egypt approves AIIB loan to build metro in Alexandria
DATELINE: Aug. 18, 2023
LOCATION: Cairo
CATEGORY: ECONOMY
- Various of the meeting of Egyptian Cabinet (courtesy of Egyptian Cabinet)
The Egyptian government has approved a loan from the Asian Infrastructure Investment Bank (AIIB) to finance the construction of a metro line in Alexandria, a northern coastal province. The loan, amounting to 250 million euros (approximately 272 million U.S. dollars), will be provided by the Beijing-based AIIB. This funding is part of a deal signed by Egypt’s Ministry of International Cooperation and the AIIB in China last month.
The Abu Qir metro line in Alexandria, estimated to cost 1.5 billion euros, will be co-financed by the AIIB, the European Bank for Reconstruction and Development, the European Investment Bank, and the French Development Agency. The project aims to improve transportation and alleviate traffic congestion in the city.
The new metro line will be developed on the existing Abu Qir railway line, connecting the city center with the Abu Qir area northeast of Alexandria. It will involve infrastructure works and the implementation of related railway systems, including signaling, communication, and control systems.
This project aligns with the Sustainable Development Goals (SDGs) set by the United Nations. Specifically, it contributes to SDG 9: Industry, Innovation, and Infrastructure, by promoting the development of sustainable and resilient infrastructure. Additionally, it supports SDG 11: Sustainable Cities and Communities, by improving transportation and reducing congestion in Alexandria.
By securing funding from international financial institutions like the AIIB, Egypt demonstrates its commitment to achieving the SDGs and advancing sustainable development in the country.
Xinhua News Agency correspondents reporting from Cairo. (XHTV)
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
The article discusses the approval of a loan to finance a metro line in Alexandria, Egypt. This aligns with SDG 9, which focuses on building resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation. Additionally, the project aims to improve transportation and ease traffic congestion in Alexandria, which relates to SDG 11, which aims to make cities inclusive, safe, resilient, and sustainable.
2. What specific targets under those SDGs can be identified based on the article’s content?
- Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure
- Target 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems
The article mentions the financing of a metro line in Alexandria, which contributes to Target 9.1 of SDG 9. This target focuses on developing quality, reliable, sustainable, and resilient infrastructure. Additionally, the project aims to improve transportation in Alexandria, aligning with Target 11.2 of SDG 11, which aims to provide access to safe, affordable, accessible, and sustainable transport systems.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road
- Indicator 11.2.1: Proportion of population that has convenient access to public transport
Although the article does not explicitly mention indicators, we can infer potential indicators based on the targets identified. For Target 9.1, an indicator could be the proportion of the population living within a certain distance of the metro line, indicating the accessibility and reach of the infrastructure. For Target 11.2, an indicator could be the proportion of the population in Alexandria that has convenient access to the metro line, measuring the effectiveness of the transport system in improving accessibility.
4. SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 9: Industry, Innovation, and Infrastructure | Target 9.1: Develop quality, reliable, sustainable, and resilient infrastructure | Indicator 9.1.1: Proportion of the rural population who live within 2 km of an all-season road |
| SDG 11: Sustainable Cities and Communities | Target 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems | Indicator 11.2.1: Proportion of population that has convenient access to public transport |
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Source: news-journal.com
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