The African Development Bank Group (AfDB) has mobilised $2.2 billion to fund Egypt’s water desalination and treatment projects for agriculture, exceeding previous target of $1.4 billion, AfDB’s President Akinwumi Adesina announced on Tuesday during the AfDB’s Annual Meetings.
The fund is part of a $14 billion financial mobilization for Egypt’s Nexus for Water, Food, and Energy (NWFE) programme, Adesina added, referring to the water treatment projects in Egypt, like El-Gabal El-Asfar Wastewater Treatment Plant.
“Africa requires $200 billion annually to achieve the Sustainable Development Goals (SDGs), $144 billion annually to address the repercussions of COVID-19, and $108 billion annually to fund infrastructure development projects,” said President Abdel Fattah El-Sisi.
The NWFE programme, launched in 2022, aims to implement Egypt’s Nationally Determined Contributions (NDCs) to mitigate the adverse impact of climate change. The NWF programme includes nine projects and an investment of $14.7 billion.