Cairo - Mubasher: Go Bus for Transport, Egypt’s first privately owned inter-city bus company, will launch an inter-city electric bus fleet with a EUR 10.60 million loan from the European Bank for Reconstruction and Development (EBRD).
The financing includes a 10% first-loss risk cover from the EU’s EFSD+ guarantee program, according to a press release.
The loan will fund up to 30 new inter-city buses, six electric micro-buses for shorter routes, and three electric vehicles (EVs) for intra-city trips, aiming to reduce emissions and ease congestion.
Driver training will include measures to prevent and respond to gender-based violence, addressing a UN study showing that 86% of women feel unsafe on public transport.
The project also includes an EBRD technical cooperation package and an EU grant to strengthen corporate governance.
Founded in 1998 and fully owned by the Nassif family, Go Bus operates 29 routes across Egypt, serving 1.90 million passengers annually.
It is worth highlighting that the EBRD has invested over EUR 13.50 billion in 206 projects in Egypt since 2012.
