Parliament approves 6 development projects

CAIRO – 6 July 2017: House of Representatives approved a wind farm project to generate renewable energy, which will be established at Suez bay with cost estimated at €345 million ($391 million), in cooperation with the German KfW Development Bank, according to statement released by the Ministry of Investment and International Cooperation on Wednesday.

The wind farm aims at producing 20 percent of total consumption of power by 2020, in the framework of Egypt’s efforts to achieve sustainable development.

The project is part of six new agreements signed by Minister of Investment and International Cooperation, Sahar Nasr, and approved by the Parliament in its Wednesday session.

Other cooperation deals approved by the parliament include an economic and technical cooperation deal between Nasr and Djibouti Minister of Foreign Affairs, Mohamed Ali Youssouf, to strengthen trade relations and economic cooperation between the two countries, in addition to cooperation in scientific and technological fields.

The parliament also approved an €800 thousand grant presented by the Italian government to reconstruct the Museum of Islamic Arts in Cairo.

Other deals include building desalination plant east of Port Said governorate funded by Kuwait, with cost estimated at KD 180.5 million, in addition to a grant by the African Bank to develop slums in Egypt, and a credit facility deal proposed by the French Development Agency to restore the sanitation system in Alexandria Governorate.

The French Agency will also provide Egypt with a €170 million credit facility deal to support the power budget and to fund the project of developing human resources in both the medical and educational fields.