Egypt approves AIIB loan to build metro line in Alexandria

CAIRO, Aug. 17 (Xinhua) -- The Egyptian government approved on Thursday a loan from the Asian Infrastructure Investment Bank (AIIB) to finance a metro line in the northern coastal province of Alexandria, said the Egyptian cabinet in a statement.

The Beijing-based bank will provide Egypt with 250 million euros (about 272 million U.S. dollars) to fund the Abu Qir metro line in the Egyptian coastal city of Alexandr