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AfDB has supported Egypt with $1.5bn over past 3 years - Daily News Egypt

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AfDB has supported Egypt with $1.5bn over past 3 years

Bank's current portfolio in Egypt reached $3bn, distributed over 31 projects


The African Development Bank (AfDB) announced the results achieved by Egypt during the last period in its report entitled ‘Building Partnerships to Make Egypt Competitive and Sustainable’, which was unveiled at the ministry of investment and international cooperation on Thursday.

The report highlighted that the AfDB has supported Egypt with a value of $1.5bn over the past three years. 

According to the report, the AfDB has financed more than 100 projects in Egypt, and over the past decade, the bank has participated in funding 42 projects worth more than $2.5bn.

The bank’s current portfolio in Egypt reached $3bn, distributed over 31 projects, the most important of which is supporting the government’s economic and social programme.

The report highlighted Egypt’s remarkable achievements in the five priority areas of the bank, namely energy, food, industry, increasing cooperation within Africa, and improving citizens’ lives. 

The most important outcome of the cooperation between the AfDB and Egypt during the past years was the delivery and improvement of electricity services to about 15 million Egyptians after adding 4,000MW to the Egyptian electricity grid, improving the water management throughout 44,000 hectares of agricultural land, improving irrigation and drainage services in the Upper Egypt and Delta lands, providing funding to more than 600,000 small and medium enterprises, especially in Upper Egypt and Sinai. In addition to the aforementioned, the bank assisted in the treatment of 2.5m cubic meters per day of wastewater through El Gabal El Asfar station, in addition to 1.6m cubic meters through Abu Rawash station.

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https://dailyfeed.dailynewsegypt.com/2019/02/21/afdb-has-supported-egypt-with-1-5bn-over-past-3-years/
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