Egypt: EIB lends 120 million for clean electricity and water

The European Investment Bank (EIB) granted two loans to the Arab Republic of Egypt today. The contracts were signed by Mr Hisham Ramez Abd El Hafez, Deputy Governor of the Central Bank of Egypt and Philippe de Fontaine Vive, Vice-President of the EIB in charge of the partnership with the Mediterranean region.

* A loan of EUR 50 million in support of a new wind farm in Gabal el Zait
* A loan of EUR 70 million to improve access to safe drinking water and sanitation for four million people in the Nile Delta

Both projects represent a new approach of integrated and enhanced cooperation as the EIB is joining forces with its partners KfW, AfD and the EC with the support of the Neighbourhood Investment Facility (NIF).

The water and wastewater services investment programme

This project comprises investments in water supply and wastewater infrastructure in four Governorates in the Nile Delta - Behira, Damietta, Gharbia and Sharkia. It is essentially a framework loan comprising about 100 sub-investments aimed at improving access to safe drinking water and sanitation for approximately four million people in the project area. 

The investment is expected to have a direct positive impact on the environment through i) saving additional water resources, ii) reducing the uncontrolled discharge of inadequately and/or completely untreated wastewater from existing wastewater treatment plants and iii) improving health conditions in a substantial number of still unserved areas.