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Last Update : Monday, March 22, 2010- 04:30 PM -Damascus


Local News>>European Investment Bank Expresses Readiness to Fund Damascus Metro Project

European Investment Bank Expresses Readiness to Fund Damascus Metro Project

Feb 07, 2010

Damascus, (SANA)-Minister of Transport Yarub Suleiman Bader discussed on Sunday with Head of the Near East Department at the European Investment Bank Javier Gutierrez Degeneve the available possibilities of funding Damascus Metro/ the Green Line/  after determining the rate of the private sector's contribution to that strategic project by the French company of Sistra which is studying the economic feasibility of the project.

Gutierrez pointed out that the Bank is interested in the project of Damascus Metro, expressing readiness to fund the project through granting Euros 400 million, providing that the bank in the coming stage will consider the possibility of funding 50 percent of the project's total cost.

For his part, Bader expressed his ministry's satisfaction and its willingness to deal with the European Investment Bank after the successful experience in Tartous Port which was translated through providing the technical aid and supervising and following up all the required measures regarding the contract of containers station.

Damascus Metro/ The Green Line/ extends form al-Moaddamia area in Damascus Countryside ending in al-Qaboun. The 16, 5-kilometer long road includes 17 stations.

It is considered one of the four road lines which pass through the most populous areas in Damascus City.

Ruaa AL-Jazaeri/ Ghossoun

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