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Add to Preferred SourcesThe young people of Upper Egypt will benefit from the construction of new environmentally friendly buildings for Assiut University, financed by a €25 million loan from the EBRD.
The funds will be provided in local currency to Cairo Investment and Real Estate Development (CIRA), an Egyptian joint-stock company. Around a third of the investment will be dedicated to green financing to ensure efficient use of water and energy-efficient construction material during the development of the new campus.
Upper Egypt is home to 30 percent of the country’s total population, yet is underserved in terms of services and economic opportunities. The new university will have four faculties as a first phase and will introduce new and modern learning programmes.
The EBRD will work to ensure that the buildings meet environmental standards, such as silver certification under the Leadership in Energy and Environmental Design (LEED) rating certificate.
Original source: EBRD
Published on 01 October 2019