EU Partners with Egypt to Provide 117.9M Euros of Development Finance

Egypt's Ministry of International Cooperation announces that the EU has provided 117.9 million euros of development financing to support the budget of the water and energy sectors,

The development financing will also support the ministries of housing and utilities, water resources and irrigation, finance, petroleum, mineral wealth, electricity, and renewable energy.

Coordinated responses through international cooperation can tackle the synergies between water and energy, which is why building partnerships can promote nexus solutions that reap the benefits of cooperation in the water and energy sector.

Rania A. Al-Mashat, the Minister of International Cooperation, noted that the financing falls in line with Egypt’s vision to strengthen international partnerships and spur sustainable economic growth through development financing.

The minister added that international partnerships have achieved mutual benefits for Egypt and the international community, as it has led to the successful implementation of many projects in the water sector, with examples that include the Bahr Al-Baqar wastewater treatment plant, the Mahsama wastewater treatment plant, and Gabal Al-Asfar wastewater treatment plant.

Egypt enjoys a strong partnership with the European Union, with the current cooperation portfolio between Egypt and the European Union amounting to around 1.35 billion euros to support several sectors, including transport, water, agriculture, small and medium enterprises, sustainable energy, environment, social protection, governance, capacity building, and civil society.