AfDB mulls $170 million Finances for Egypt Power, Infrastructure Projects

The African Development Bank Group is studying US$170 million in finances for two projects in Egypt, a senior source from the bank told Amwal Al Ghad Monday.

The two projects, worth more than US$600 million, could be included in the AfDB’s strategy to provide financing for infrastructure and energy projects in Egypt within 2015.

The US$170-million understudy finances shall be distributed as US$100 million for the West Delta Electricity Production Company (WDEPC) to carry out a power plant in Damanhour, in addition to US$70 million to be allocated for a major sewage project.

In March, AfDB reached an agreement with the Egyptian government over a US$2.5-3 billion in aid, marking a three-year strategy of cooperation with Egypt for 2015-2019.