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AIIB helps bring clean drinking water, sanitation services to rural Egypt

Oct 1, 2018
AIIB helps bring clean drinking water, sanitation services to rural Egypt

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The Asian Infrastructure Investment Bank’s (AIIB) Board of Directors approved its first loan to the Egyptian government for USD300 million. The investment will strengthen physical infrastructure to increase access to and improve rural sanitation services for 892,000 people in 178,000 rural households in selected governorates in the country.

Under the project, AIIB will finance the physical infrastructure to provide sanitation services in five governorates in Egypt, including Dakahliya, Sharkiya, Damietta, Menoufiya and Gharbiya. This project is co-financed with the World Bank.

“Women will benefit substantially from this project because it will help relieve them of the traditional burden of care for family members suffering from waterborne and contamination-related illnesses,” said AIIB Vice President and Chief Investment Officer D.J. Pandian. “Access to clean water and better sanitation also helps to reduce poverty and minimize environmental pollutants. This is well aligned with AIIB’s mandate to help its members achieve their commitments under the Sustainable Development Goals.”

AIIB is investing in the second of a two-phase project, which will include:

  • Construction of new or expansion/rehabilitation of existing wastewater treatment plants.
  • Upgrading or construction of pumping stations.
  • Construction of integrated sewerage networks consisting of collectors and pumping mains.
  • Ensuring services for inhabitants of “satellite” areas located between the villages where the main sewers will pass.

“The program will directly contribute to the socioeconomic development of Egypt by addressing the issues of low sanitation coverage and environmental degradation,” said AIIB Director General of Investment Operations Supee Teravaninthorn. “It will also enhance knowledge sharing between AIIB, the World Bank and the Government of Egypt.” 

This is AIIB’s second project in Egypt, bringing its total commitments up to USD510 million.

Original source: AIIB
Published on 28 September 2018