CAIRO – The European Investment Bank (EIB) announced significant new investment plans in Egypt’s water and sanitation sectors that aim to address the country’s water challenges and contribute to sustainable development.
The announcement was made by Guido Clary, the head of the EIB regional office in Cairo, during the closing press conference of Europe and the European Union team on water cooperation with Egypt, which took place on the sidelines of Cairo Water Week.
The EIB, in collaboration with the European Bank for Reconstruction and Development (EBRD) and Egypt’s Ministry of Planning and International Cooperation, convene on regular basis to identify investment opportunities that come in line with Egypt Vision 2030, Clary said.
The EIB official underscored the need for a new approach in the coming year, focusing on integrated projects rather than merely investing in infrastructure.
The new investment strategy will prioritize three key aspects, namely wastewater management, coastal protection along with an inter-linkage approach to water management, Clary stated.
He highlighted key projects carried out by the EIB in Egypt, including the Helwan Water Station, with investments by the bank amounting to 165 million euros, as well as the Kitchener project, which aims to improve public health and reduce pollution in the Nile Delta.
Clary said that projected investments valued at 200 million euros are expected to be injected to support the Kitchener project.
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