Egypt Gets Wastewater Plant Expansion Loans from EU Lending Arm

A wastewater project that consists of building two treatment plants, expanding three and almost 700 kilometers (435 miles) of sewers in the northern delta part of the Nile River’s western branch will receive European Investment Bank funding.

More than half, or 77 million euros ($104 million), of the 164 million-euro project’s costs in Kafr El Sheikh governorate will come from the European Union’s lending arm. The volume and quality of fish in Lake Burullus where 70 percent of the country’s fishing industry occurs and improved conditions for tourism on the Mediterranean coast will be among the benefits, the Luxembourg-based bank said on Tuesday in a statement.

Source: Bloomberg