Egypt, IFC, EBRD sign cooperation agreement on desalination projects



Thu, 23 Mar 2023 - 09:56 GMT


Thu, 23 Mar 2023 - 09:56 GMT

CAIRO – 23 March 2023: Minister of Planning and Economic Development and Chairwoman of The Sovereign Fund of Egypt (TSFE) Hala El-Said attended Wednesday the signing ceremony of an agreement to integrate the private sector in the implementation of seawater desalination programme.


The agreement has as parties TSFE, International Finance Corporation (IFC), and European Bank for Reconstruction and Development (EBRD).


In her speech, the minister of planning said that the agreement represents a major step forward in strengthening the partnership between the Egyptian government and its main development partners, including the IFC and the EBRD.


The minister further noted that the partnership had become stronger in recent years and included a wide range of areas of cooperation.




El-Said underlined that water was an integral part of humanity's progress coupled with accelerated population growth, which had intensified the strain on water resources.


The minister added that more than half of the world’s population is expected to be at the risk of water stress by 2050, underscoring that the Egyptian state recognized the inevitability of proper management of water resources for access to safe drinking water and food security.


In that framework, El-Said pointed out that the government had embarked on implementing an ambitious agenda for integrated water resources management. She added that the Egyptian government was working to develop its water desalination program in partnership with many private entities.


Equally, the minister highlighted that the role of the private sector in the desalination program was indispensable to ensure the presence of appropriate expertise, in addition to the technological know-how as well as sufficient and sustainable financial resources.



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