Egypt: EBRD and IFC support seawater desalination and renewables in Egypt

The European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC) are working with The Sovereign Fund of Egypt for Investment and Development (TSFE) and the Egyptian Government to support the preparation and procurement of four seawater desalination plants. The EBRD and IFC signed an advisory agreement to support Egypt in structuring and implementing public-private partnership (PPP) desalination projects that will increase the supply of water in the country, particularly from sustainable, unconventional sources. The desalination project will help to ensure Egypt’s water security, improve its resilience, mitigate the impact of climate change-induced freshwater scarcity and boost sustainable economic growth. Moreover, the electricity used to power the desalination plants will be procured from renewable energy sources