The UK provides €80M guarantee to the AfDB for a wastewater project in Egypt



Sun, 28 May 2023 - 04:28 GMT


Sun, 28 May 2023 - 04:28 GMT

CAIRO – 28 May 2023: The United Kingdom is launching a new wastewater project in Egypt through providing an €80 million guarantee to the African Development Bank (AfDB) to support the 3rd phase of the Al-Gabal Al-Asfar Wastewater Treatment Plant project.

This falls under the UK’s Room 2 Run guarantee program. AfDB aims to increase climate financing in the countries of the African continent until 2027 and enable countries to implement their Nationally Determined Contribution (NDCs).

The project provides its services to about 12 million people in the first and second phases, and the third phase provides services to about 5.5 million people, which reflects the commitment to achieving water security and enhancing climate resilience.

The Minister of International Cooperation, Rania Al-Mashat, witnessed the announcement of the United Kingdom and the AfDB on the first tranche of projects benefiting from the United Kingdom’s guarantee to support the AfDB in financing climate projects in Africa.

Al-Mashat indicated that the guarantee for the 3rd phase of the Al-Gabal Al-Asfar wastewater project reflects the great value that the project represents in light of the steps taken by the Government of Egypt to promote sustainable management of water resources and stimulate efforts to adapt to climate changes.

The AfDB announced last week that it raised $2.2 billion to improve Egypt’s water security under the Egypt’s Nexus for Water, Food and Energy (NWFE) program that originally had a target of $1.4 billion.



Leave a Comment

Be Social