’The standout feature of this transaction is not only the amount [€1 billion] – but behind this you can see heavy industrial, and financial cooperation between the parties, that has a positive effect on all three respective countries’ economy’, said Gergely Jákli, President and CEO of EXIM Hungary to TXF News.

The British trade online magazine reported on the details of the transaction in a leading paper, where Nikita Gusakov, CEO of the Russian EXIAR also spoke about the Egyptian railway deal.

Egyptian National Railways (ENR) raised the benchmark for big-ticket export finance collaboration at the end of 2019, after the state-owned company signed a €1 billion ($1.17 billion) dual ECA-backed buyer’s credit facility to back the procurement of 1,300 passenger coaches, 37% of the Egyptian capacity.

The full parallel interview can be read here.