Int'l Coop Min., EIB Chart Egypt’s Green Transition through €300 Financing Agreements 

Against the global context, the Egyptian Ministry of International Cooperation and the European Investment Bank (EIB) have strengthened their partnership and deepened development cooperation with a focus on upholding the values of multeralism, supporting economic recovery, and charting the sustainable and green transition.

The Ministry of International Cooperation announced that, through a strong partnership ethos with the European Investment Bank, development financing agreements worth a total of 300 million euros were signed since the beginning of this year.

Delving into the agreements, the Ministry announced that it signed an agreement with the European Investment Bank worth 221 million euros for the upgrade of the "Tanta-El Mansoura-Damietta railway" project.

Implemented by the Egyptian Authority for Egyptian Railways, the project falls under a government vision to modernize the transportation sector and take bold steps to put Egypt on the world map of sustainable and green cities.

Harnessing effective partnerships to achieve the SDGs, the Ministry of International Cooperation acts as the main interlocutor between different development actors in Egypt to create a clear pipeline for investment and implementation.

Through its partnership with the European Investment Bank, it prioritizes the following SDGs: SDG 9 (Industry, Innovation and Infrastructure), SDG 6 (Clean Water and Sanitation), SDG 8 (Decent Work and Economic Growth), SDG 11 (Sustainable Cities and Communities).

Promoting water sustainability in Egypt, the development financing agreements also include an agreement worth 78 million euros to upgrade the Helwan Wastewater Treatment Plant, which is implemented by the Ministry of Housing, Utilities and Urban Communities and the National Organization For Potable Water and Sanitary Drainage.

It also includes a grant worth a total 20 million euros from the European Union for the Alexandria West Wastewater Treatment Plant project, which is being implemented by the Ministry of Housing, Utilities and Urban Communities and the National Organization For Potable Water and Sanitary Drainage.

Another grant agreement worth 4 million euros was signed with the European Union for the "Industrial Pollution Control - Phase III" program, which is implemented by the Environmental Affairs Agency and the National Bank of Egypt.

The ODA-SDG mapping carried out by the Ministry of International Cooperation revealed that total financing for SDG 6 (Clean Water and Sanitation) totals $5.4 billion, representing approximately 20% of the total portfolio to implement 39 projects.