"Egypt's quota of the River Nile could not be touched" Minister of Irrigation and Water Resources Mahmoud Abu Zeid has said at the closing session of the 16th conference of the Nile Basin Countries in DR Congo.

Abu Zeid further said Egypt's Nile River quota stands at 55.5 billion cubic meters.

“This quota meets 95 percent of Egypt's water needs,” the Minister added.

At their meeting, the member states agreed to set up a credit fund to finance Nile projects at an initial budget of $140 million.

Most of the money will come in the shape of European grants.