The Ministry of Civil Aviation has requested the World Bank (WB) to finance Cairo Airport Development Project – Terminal 2, the Egyptian Holding Company for Airports and Air Navigation (EHCAAN) being the beneficiary. Thus, it has been agreed with the World Bank to provide a loan worth $280m and a loan agreement was signed on 25\3\2015 with an enforcement date of 30\11\2015.
The purpose of the project is to improve the quality of services at the Airport through increasing its capacity and to develop air transportation services. It mainly focuses on developing terminal 2 which was completely rebuilt. The project implementation is notably in progress; it has been noted during the field visit that 80% of the project activities has been completed.
On the other hand, the project has provided 5 consultative studies to develop the civil aviation sector and all of them have been completed. The closing date of the said loan was extended for 6 months from the earlier closing date of 31\11\2015, thereby falling on 13\11\2015, in order to complete remaining project activities. This project is considered one of the vital projects that have considerable economic and tourism returns.