State-run National Investment Bank (NIB) is considering securing new financing worth EGP500 million (USD56.3 million) for the Egyptian National Railways (ENR), according to the bank’s board member Momtaz al-Saeed. He further said that the loan under study is set to finance the purchase of machinery and equipment needed by the ENR. NIB already approved similar funding for the railways authority over the past few months, which were disbursed over three tranches, the banking official added. The ENR has prepared an investment strategy worth EGP90 billion to restructure the country's railway sector, including an emergency plan worth EGP7.17 billion. (Amwal Alghad)