Egypt, EIB to ink €172M loan for wastewater treatment projects

CAIRO – 6 September 2017: Egypt’s Ministry of International Cooperation will sign a €172 million ($205 million) loan with the European Investment Bank (EIB) in few days to finance wastewater treatment projects, Al Mal Newspaper reported Tuesday.

The signing ceremony is scheduled to take place on the sidelines of the conference that will be held by the bank in Egypt on September 13 entitled “Boosting investments in the Mediterranean Region.”

Around 500 prominent characters from the region will attend the conference, an official told Al Mal.

Moreover, the newspaper added that Egypt will be granted €400,000 from the bank for the finance of the development projects in the coastal city of Alexandria.

In May, the

European Bank for Reconstruction and Development (EBRD)

granted a €186 million loan to the Fayoum Water and Wastewater Company in order to expand sanitation services