AfDB finances over 50 projects in Egypt since 2015

The African Development Bank (AfDB) said on Saturday it has financed more than 50 projects in Egypt since 2015, at costs totalling $3.3 billion.

The projects covered fields including power, energy, irrigation, agriculture and SMEs, said the AfDB in a statement released after a workshop organised by the bank in Cairo.

Director of AfDB’s Country Office Malin Bloomberg, who chaired the event, reviewed the projects undertaken by several ministries and state bodies, including the ministries of investment and international cooperation, finance, electricity, and agriculture.

She said that Egypt is endowed with all human and natural resources that enable it to occupy a unique position at the commercial and industrial levels.

AfDB’s Country Program Officer Samuel Kamara lauded the Egyptian government’s strong performance and commitment, which have been maintained in the execution of the joint under-construction projects.

Source: MENA