Egypt is due to sign a €163 million umbrella loan agreement with the European Investment Bank (EIB) to finance projects for sanitation services in Kafr el-Sheikh governorate.
In this respect, Egypt’s Minister of Planning Ashraf El-Araby had met Monday with Ambassador James Moran – Head of Delegation of the European Union to Egypt; and Tom Anderson, Head of the Regional Office for the EIB in the Near East, Egypt.
The Egyptian minister said the project for developing sanitation services in Kafr el-Sheikh will be at total cost of €163.500 million.
El-Araby has revealed the lenders’ contributions to the project as follows; EIB’s long-term loan of €77 million, EU’s grant worth €15 million, and the European Bank for Reconstruction and Development (EBRD)’s loan at value of €55 million. This comes in addition to a €16.500 million allocated by the Egyptian for the project.
Furthermore, the minister said the project includes building up new wastewater treatment plants, making expansions for the existing plants and installing sewage networks and establishing pumping stations in Kafr el-Sheikh.