EIB studies financing water desalination projects in Egypt
This statement came in conjunction with the state’s Minister of Local Development, Mahmoud Shaarawy, announcing that Egypt has entered the water poverty stage.
According to Salem, the EIB gives great priority to water and sanitation projects as one of Egypt's priorities, pointing out that this is done in keeping with the large national programs implemented by Egypt, including a decent life initiative.
“The bank contributes to several projects in Egypt with joint funding with the European Union (EU),” Salem stated.
He pointed out that among these projects is a sewage station in West Alexandria, unlike other projects such as the water quality improvement project at Kitchener Drain in the Delta, with a financing value of €406 million, with development financing of €213.9 million from the EIB and a grant of €25 million from the EU, in addition to sewage projects in Kafr El-Sheikh and many projects at the level of the Republic.
On the bank's future projects in Egypt, the investment bank official explained that the bank always seeks to respond to the national plan of the Egyptian state and its priorities.