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Add to Preferred SourcesThe EBRD is improving the living conditions of approximately three million inhabitants of Egypt’s Fayoum governorate – of whom around one million will have access to sanitation services for the first time – with a loan of up to €186 million to the Fayoum Water and Wastewater Company for the development and expansion of its wastewater services.
The EBRD financing will be complemented by a loan of €172 million provided by the European Investment Bank, while the EU Neighbourhood Investment Facility (NIF) is extending an investment grant of €30 million and over € 7 million for technical assistance.
The funding will support the construction of 8 new wastewater treatment plants, the expansion of 9 units and the rehabilitation of 10 plants as well as the installation of 3,433 km of pipes and 139 pumping stations. In addition, 350 sewage removal trucks will be procured to serve remote rural communities.
The investment will increase the company’s treatment capacity by almost 300,000 m3 per day and provide sanitation services to almost 90 per cent of the rural population in the Fayoum governorate from a current level of slightly more than 30 per cent.
“Water is life. The European Union has a long and lasting commitment to work with Egypt in supporting this vital sector. Our aim is to improve the quality of life of nearly 10 million inhabitants, which is part of our ongoing support to the water sector. The EU has allocated €425 million in grants, leveraging €2 billion in blended finance through European financial institutions to support the water sector in Egypt,” Ambassador Ivan Surkoš, Head of the EU Delegation to Egypt.
The EBRD believes that successful economies should be competitive, well-governed, green, inclusive, resilient and integrated.
Source: EBRD. Read full information.
29 May, 2017