World Bank to resume $1bn Loan Talks for Egypt’s Sanitation Project Next Jan 17
A World Bank delegation is visiting Egypt next January 18th to resume talks over US$1 billion loan to support sanitation project covering 760 villages
The sanitation project will cover 760 villages along the Rosetta branch of the Nile Delta and along the Al-Salam Canal, which runs from the East Delta through the Sinai Peninsula.
World Bank’s approval on the loan contributes to raise the lenders and investors’ confidence on the project, Egyptian housing minister Mostafa Madboly said after signing a protocol on cooperation with the Egyptian Social Fund for Development (SFD).
Hence, this drives one of the private sector firms to announce contribution in the sanitation project, through providing financial assistance to deliver sanitation services to a number of unprivileged villages, within the framework of its social responsibility role.
Moreover, Madboly stated that the project would be executed in 3 years as the ministry needs $ 1 billion annually for the renewal and replacement of the pipelines of sanitation. In addition, he referred to some extra costs for conveying the sanitation for the unprivileged villages.
The World Bank’s commitment to Egypt currently includes 25 projects for a total of US$4.9 billion as well as 43 trust fund grants worth US$190.2 million in the sectors of energy, transport, water and sanitation, agriculture, irrigation, health and education.
