Egypt, European Investment Bank sign 2 grants worth EGP 662 million
Friday، 14 September 2018 - 10:44 AM
Egypt and the European Investment Bank signed on Thursday two grants worth 662 million pounds for technical assistance and investment in the infrastructure in the drainage treatment domain in Kafr el Sheikh.
The two grants, signed by Investment and International Cooperation Minister Sahar Nasr and deputy Regional Representative of the bank Maria Rica, come as part of ongoing cooperation between Egypt and the bank and within the directives of President Abdel Fattah El Sisi to boost infrastructure.
Some 79 villages in Kafr el Sheikh will benefit from the deal that will also help improve living conditions of the governorate residents through developing the way drainage water is treated.
Under the deal, four drainage water treatment plants will be expanded and three new ones will be set up in the governorate, said board chairman of the Holding Company of Water and Waste Water Mamdouh Raslan.
The projects will create 37,000 jobs and are likely to be finished in 2022.