Sisi Oks additional loan to fund Egypt’s largest drainage system
Egyptian President Abdel Fattah al-Sisi on Thursday approved an additional loan agreement to fund the country’s largest sewage water treatment plant in Bahr El-Baqar village.
On 8 December 2018, Egypt and Kuwait Fund for Arab Economic Development signed two deals worth 2.28 billion Egyptian pounds ($140.3 million) for projects in Bahr El-Baqar and South Sinai.
The additional loan agreement enables financing for the 106-km Bahr El-Baqar water drainage system worth KWD 25 million, equivalent to 1.3 billion pounds or $82.3 million.
El-Baqar water drainage system starts from Dakahlia to Sharqia governorates, Ismailia to the last city of Port Said; the longest part locates in Sharqia.
On the sidelines of Africa Business Forum 2018, Egyptian Investment Minister Sahar Nasr inked the deals with the Kuwait Fund for Arab Development Bank Director General Abdel Wahab Al Badr, in the presence of South Sinai governor’s Khaled Fouda.
The two deals included funds to support the establishment of water system for a drain in Bahr El-Baqar to treat sewage and agricultural wastewater of 1.4 billion pounds. It will be inaugurated after two years in the east of Suez Canal.