Cairo – Mubasher: Egypt has signed on Wednesday a number of investment deals worth EUR 386.1 million with the European Investment Bank’s (EIB) to fund several projects.
Egypt’s minister of investment and international cooperation Sahar Nasr has signed a memorandum of understanding (MoU) to implement three projects worth EUR 381.4 million over the coming months, according to a statement by the Ministry of Investment.
The three deals will cover investing in Kitchener Bank’s project with EUR 209 million, in addition to treating the polluted wastewater of Lake Moeris in Faiyum with EUR 172 million.
The third agreement includes granting a total sum of EUR 400,000 as a technical support for Alexandria Water Co, located in West Alexandria.
Moreover, the Egyptian minister of housing, utilities, and urban development Moustafa Madbouli and the minister of investment signed an EUR 4.7 million deal with the EIB’s vice-president Dario Scannapieco to fund Kafr El Sheikh’s sewage system.
The statement referred that the EIB, European Bank for Reconstruction and Development (EBRD), and the European Commission have granted EUR 77 million, EUR 55 million, and EUR 15 million to support the sewage system project in Kafr El Sheikh, respectively.
Governor of Kafr El Sheikh noted that an investment zone is currently under construction in the governorate to attract investors.
