Minister of International Cooperation Sahar Nasr and Minister of Housing and Urban Development Mostafa Madbouly met with Philip Tirrot, chairperson of European Bank for Reconstruction and Development (EBRD) on Wednesday in Cairo to look into financing and implementing the Abo Rawash project for wastewater processing.
The project is part of the bank’s new strategy. It is also part of the partnership between the public and private sectors. The project is expected to serve 4.7 million citizens and provide 1,500 jobs for four years and 450 permanent jobs.
The two parties have agreed on a mechanism to finance and implement the project in coordination with the ministries of housing and international cooperation in ways that meet the citizens’ needs.
Egypt is expected to become the country with the second largest number of activities in cooperation with EBRD in the region by 2017. The bank has invested in several projects in vital sectors in Egypt worth a total of €1.7bn.