Minister of Transport Kamel El-Wazir said on Tuesday, June 16, 2026, that the Egyptian state has a genuine determination to confront challenges through continuous construction and development efforts despite ongoing crises. Speaking during a plenary session of the House of Representatives, chaired by Speaker Hisham Badawi, Wazir made the remarks while lawmakers discussed Presidential Decree No.
160 of 2026 approving a loan agreement to finance the second and third lines of Egypt's high-speed electric rail network. The agreement was signed between the Egyptian government and a consortium of European banks with guarantees provided by Germany's Euler Hermes export credit agency.
Wazir said Egypt remains committed to pursuing development amid both domestic and regional challenges and has refused to succumb to crises because it believes in the future and the importance of long-term investment. He described the high-speed electric rail network as a strategic investment project for future generations, stressing that its implementation represents a major achievement that will connect different parts of the country through an integrated transportation system.
The minister said the project marks a significant transformation in mass transit services and praised the efforts of Egyptian workers and national industries contributing to its implementation. He added that the high-speed rail project carries substantial economic benefits extending beyond the transportation sector, including the creation of direct and indirect job opportunities and strengthening Egypt's position as a regional hub for transport, logistics and transit trade.
Wazir noted that several African countries have operated high-speed rail projects for years, stressing that Egypt possesses the capabilities necessary to implement similar large-scale infrastructure projects.