Germany’s KFW bank finances €1.8 billion flagships in Egypt

Germany’s state-run development bank KFW has provided financing for projects currently in the country that is worth 1.8 billion euros, state agency MENA reported the head of the bank’s Egyptian office as saying on Friday.

Burkhard Hinz told journalists during the festival “Germany in the Nile Delta” that the bank was focusing key current fields in Egypt, including water, solid garbage, new and renewable energy, technical education, and supporting primary education.

He also said that KFW has financed projects worth 5.5 billion euros since it began its operations in Egypt in the 1960s.

Hinz stated the bank has financed the construction of 900 primary education schools across Egypt, water projects that have benefited at least 4 million people in the Nile Delta, and irrigation projects helping 7 million people.

He also revealed that the bank is planning to finance new projects in Qena, Sohag, Assiut, and Minya in the future.

Source: Ahram online