The Asia Infrastructure Investment Bank Co-Finances Alexandria’s New Metro System – Silk Road Briefing
The Asia Infrastructure Investment Bank Co-Finances Alexandria’s ... Silk Road Briefing
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The Asian Infrastructure Investment Bank (AIIB) Financing Regional Metro System in Alexandria
The Asian Infrastructure Investment Bank (AIIB) is part of a consortium that is financing the €1.3 billion construction of a new regional metro system in Alexandria, on Egypt’s Mediterranean coast.
Project Details
The project spans 21.7 km and connects downtown Alexandria to the northeastern town of Abu Qir through 20 stations. It marks a crucial milestone as the first modernization effort for the city’s transportation infrastructure. Other lenders include the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), and L’Agence française de développement (AFD).
Egypt’s Orascom Construction, in collaboration with France’s Colas Rail, has secured an Engineering, Procurement, and Construction (EPC) contract with the National Authority for Tunnels (NAT) to execute the metro system. The project aims to introduce an electrified metro system, facilitating efficient, safe, and environmentally friendly mass transportation in Alexandria. France’s Thales will contribute by providing essential signaling, telecommunication, and automatic fare collection packages.
About the AIIB
The AIIB was established by China in 2016 and has become a leading multilateral development bank and international financial institution. It is headquartered in Beijing, with 106 sovereign shareholders, including Egypt. The bank’s next Annual General Meeting (AGM) will take place in Sharm-el-Sheikh on Egypt’s Red Sea coast in late September.
Egypt has also been invited to join the BRICS group and will become a member from January next year.
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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
- SDG 13: Climate Action
- SDG 17: Partnerships for the Goals
The article discusses the construction of a regional metro system in Alexandria, Egypt. This project is directly related to SDG 9, which focuses on building resilient infrastructure, promoting sustainable industrialization, and fostering innovation. Additionally, the project contributes to SDG 11 by improving transportation infrastructure in the city and promoting sustainable cities and communities. The mention of an electrified metro system also aligns with SDG 13, which aims to take urgent action to combat climate change and its impacts. Finally, the involvement of multiple international financial institutions, including the AIIB, highlights the importance of partnerships for achieving the SDGs, specifically SDG 17.
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure
- SDG 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems
- SDG 13.2: Integrate climate change measures into national policies, strategies, and planning
- SDG 17.17: Encourage and promote effective public, public-private, and civil society partnerships
Based on the article’s content, the specific targets that can be identified include SDG 9.1, which aims to develop quality, reliable, sustainable, and resilient infrastructure. The construction of the regional metro system in Alexandria aligns with this target. SDG 11.2, which focuses on providing access to safe, affordable, accessible, and sustainable transport systems, is also relevant to the project. Furthermore, SDG 13.2, which calls for the integration of climate change measures into national policies and planning, is addressed through the introduction of an electrified metro system. Lastly, SDG 17.17 emphasizes the importance of partnerships, and the involvement of the AIIB and other financial institutions demonstrates the promotion of effective public-private partnerships.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
- Investment amount (€1.3 billion) as an indicator of infrastructure development (SDG 9.1)
- Number of stations (20) as an indicator of improved access to transport systems (SDG 11.2)
- Introduction of an electrified metro system as an indicator of climate change mitigation (SDG 13.2)
- Partnership between AIIB, EIB, EBRD, and AFD as an indicator of effective partnerships (SDG 17.17)
The article mentions the investment amount of €1.3 billion for the construction of the metro system, which can be used as an indicator of progress towards SDG 9.1. The number of stations, which is stated as 20, can serve as an indicator of improved access to transport systems under SDG 11.2. The introduction of an electrified metro system indicates progress towards climate change mitigation, aligning with SDG 13.2. Lastly, the partnership between AIIB, EIB, EBRD, and AFD demonstrates effective partnerships, which is an indicator of progress towards SDG 17.17.
4. Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 9: Industry, Innovation, and Infrastructure | SDG 9.1: Develop quality, reliable, sustainable, and resilient infrastructure | Investment amount (€1.3 billion) |
| SDG 11: Sustainable Cities and Communities | SDG 11.2: Provide access to safe, affordable, accessible, and sustainable transport systems | Number of stations (20) |
| SDG 13: Climate Action | SDG 13.2: Integrate climate change measures into national policies, strategies, and planning | Introduction of an electrified metro system |
| SDG 17: Partnerships for the Goals | SDG 17.17: Encourage and promote effective public, public-private, and civil society partnerships | Partnership between AIIB, EIB, EBRD, and AFD |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: silkroadbriefing.com
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