Egypt approves $2m grant from AfDB for VICMED feasibility studies

Egypt has approved a $2 million grant from the African Development Bank (AfDB) to support the second phase of feasibility studies for the navigation corridor project between Lake Victoria and the Mediterranean (VICMED).

According to a decree issued by the Egyptian Presidency, the grant agreement has been approved, subject to ratification. The decision followed the endorsement of the Council of Ministers.

The House of Representatives approved the decree in a session held on 8 October 2024.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser

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