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Egypt, AfDB ink €109 million financing deal


Thu 04 Mar 2021 | 04:29 PM
Ahmed Emam

On Thursday, Egypt’s Ministry of International Cooperation and the African Development Bank (AfDB) signed a development financing deal worth €109 million that aims to provide sanitation services in residential communities in Luxor’s rural areas.

Dr. Rania Al-Mashat explained that Development funds for water and drainage projects promote sustainable growth and improve the quality of life for citizens, according to the statement by Minister of International Cooperation Dr. Rania al-Mashat.

Al-Mashat said that the strategic relationship between AfDB and the Ministry of International Cooperation has contributed to the provision of many development funds across various sectors that have enhanced Egypt's efforts in achieving sustainable development.

Al-Mashat noted that the Ministry is keen on coordinating with multilateral and bilateral development partners to support state projects with regards to drinking water and the sanitation sector, as both are vital to the country’s 2030 National Agenda in terms of water resource management and sustainable development. 

The Minister added that this development financing deal helps achieve several of the UN Sustainable Development Goals; namely SDG 3: Good Health and Well-being, SDG 6: Clean Water and Sanitation, SDG 8: Decent Work and Economic Growth, and SDG 11: Sustainable Cities and Communities. 

On the other hand, Minister of Housing, Utilities and Urban Communities Dr. Essam El-Gazzar, said that “Funding from the AfDB provides sanitation services to 236 thousand citizens.”

The signing ceremony was attended by the head of the Holding Company for Water and Wastewater (HCWW), Eng.Mamdouh Raslan; head of Luxor’s Potable Water and Sanitation Company, Major General Mohamed Soliman; the African Development Bank’s (AfDB) Deputy Regional Director for North Africa and Country Manager for Egypt, Malinne Blomberg; Chairman of the Housing Committee at the House of Representatives, Imad Hammouda; and several representatives from the Luxor Governorate. 

This comes within the framework of the role being played by the Ministry of International Cooperation; to coordinate between multilateral and bilateral development partners, and various government entities, so as to manage development funds secured for priority projects that benefit the citizens and support Egypt’s national development agenda. 

The AfDB will provide €108 million alongside a €1 million grant through the project under implementation so that 22 thousand homes in Luxor will benefit. 

The Government of Egypt is supporting efforts aimed at developing the sanitation sector across all governorates to enhance the lifestyle of rural communities by improving living conditions and by improving their ability to achieve food security.

This development financing amount will also go to building on the capacities of workers at the Potable Water and Sanitation Company in Luxor.