AfDB gives Egypt Non-refundable Grant for Golden Triangle Project

The African Development Bank (AfDB) has agreed to fund the studies of Egypt’s Golden Triangle project with non-refundable grant ranging between US$1.5-2 million, the bank’s vice president announced.

In a recent statement to Amwal Al Ghad, AfDB’s vice president Aly Abou-Sabaa said the studies on the Egyptian project would be with total cost of US$5 million.

The banking official further referred that AfDB had offered many grants for Egypt including a grant dedicated for recycling wastes.

AfDB will offer another grant to Egypt to finance a study on developing small and medium-size enterprises (SMEs), aiming to provide job opportunities for Egyptian youth, Abou-Sabaa noted.

Moreover, AfDB’s vice president also said the bank would fund more additional studies on fields related to developing irrigation system and main canals in Egypt.

The African Development Bank Group (AfDB) is a multilateral development finance institution established to contribute to the economic development and social progress of African countries.