Egypt's Environment minister in talks over waste-to-energy project

CAIRO - 25 February 2021: Environment Minister Yassmin Fouad held a meeting on Thursday with representatives of waste recycle companies that were chosen for the implementation of the first stage of waste-to-energy project.

In a statement, the minister said the meeting aims at reviewing mechanisms of financing the first stage of the project to be carried out in seven governorates and necessary guarantees that will be offered to investors in this regard.

She said necessary coordination was made with governor of the Central Bank of Egypt Tarek Amer to find an appropriate mechanism with an 8-percent interest rate and a 5 to 15-year grace period.

She added that reaching a suitable financing formula satisfying all partners would facilitate the implementation of next steps, including allocating lands in the set governorates and conducting necessary technical and environmental studies.