Summary: 8.4 billion yuan! The "One Belt, One Road" initiative will solve a major problem for Egypt and attract 23.1 billion yuan from Finland...

Yiniu Financial News: Recently, the President of Finland visited China and expressed support and optimism for my country's "One Belt, One Road" initiative. It is also planned to build an "Arctic Corridor" to connect China and Russia's deep-water ports in the Arctic Ocean and create a transcontinental economic and trade circle in conjunction with the "One Belt, One Road" initiative.

Not long ago, my country’s “Belt and Road” initiative also brought an important convenience to Egypt.

The "Belt and Road" initiative has many points of convergence with Egypt's "Vision 2030" plan. China can provide Egypt with practical help in the economic, social and environmental fields.

In 2014, China and Egypt signed a framework agreement for Egypt’s first electrified railway, and included it in the first batch of China-Egypt cooperation priority projects in 2015, which also marked the pragmatism between China and Egypt under the “One Belt, One Road” initiative. The cooperation achieved significant results.

Now China’s loan will also be in place.

On the 16th, the Export-Import Bank of China and the Egyptian National Tunnel Authority signed a loan agreement in Cairo for Egypt's first electrified railway - the "Ten Days of Ramadan" suburban railway project. The total amount of the agreement reached US$1.239 billion (approximately 8.4 billion yuan).

Hisham Arafat, Egypt’s Minister of Transport, said that the 8.4 billion yuan loan will be used to build a project connecting downtown Cairo, Cairo’s satellite city “Ten Days of Ramadan City” and the new administrative capital, with a total length of approximately 66 kilometers of light rail trains and related infrastructure.

After completion, it will effectively alleviate traffic pressure in Cairo and facilitate commuting for residents of Cairo satellite cities.

After all, 350,000 passengers will be transported every day, and the train speed can reach 120 kilometers per hour.

Since China proposed the “Belt and Road” cooperation initiative in 2013, more than 100 countries and international organizations have signed cooperation documents with Beijing on the “Belt and Road” initiative.

In 2017, my country and Russia plan to carry out cooperation on Arctic waterways and jointly build a "Polar Silk Road".

Polar Silk Road: refers to the maritime route that crosses the Arctic Circle and connects the three major economic centers of North America, East Asia and Western Europe.

This project is also favored by Finland.

Finland, Norway and other countries plan to invest 3 billion euros (approximately 23.1 billion yuan) to build a railway line connecting Rovaniemi in northern Finland and the Norwegian Barents Sea port Kirkenes—— The “Arctic Corridor” meets China’s “Polar Silk Road”.

Finland and Norway have also established a joint working group to strive to complete the Arctic Railway before 2030.

After completion, it will shorten the voyage between Europe and Asia, save shipping costs, reduce shipping safety risks, and stimulate the trade potential of the Eurasian continent.

By then, Finland will have leapt from a small, remote country to one located in the middle of Europe and Asia, as well as the Arctic gateway for China’s “One Belt, One Road” initiative.

Northern China ports will attract more ships to dock, increase cargo capacity and activate the Northeast economy.