Global Arab Network | European Investment Bank lends 120 million euros for clean electricity and water in Egypt

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European Investment Bank lends 120 million euros for clean electricity and water in Egypt

Global Arab Network - - John Short

Thursday, 01 October 2009 15:43

A loan from the European Investment Bank (EIB) to Egypt will improve supply of clean water to four million inhabitants of the Nile Delta, while a second will finance an ambitious offshore wind farm, in contracts signed on Wednesday, September 30.

The first loan for €50 million was in support of a new wind farm in Gabal el Zait. The second, for €70 million was to improve access to safe drinking water and sanitation for four million people in the Nile Delta.

An EIB press release said both projects represented a new approach of integrated and enhanced cooperation as the EIB is joining forces with its partners KfW, AfD and the EC with the support of the Neighbourhood Investment Facility (NIF).

The Gabal el Zait wind farm
The first loan will part finance a new 200 MW offshore wind farm on the Red Sea coast, which is part of an ambitious national programme in the same region to further expand power generation from renewable energy.

The water and wastewater services investment programme
This project comprises investments in water supply and wastewater infrastructure in four Governorates in the Nile Delta – Behira, Damietta, Gharbia and Sharkia. The investment is expected to have a direct positive impact on the environment through i) saving additional water resources, ii) reducing the uncontrolled discharge of inadequately and/or untreated wastewater, and iii) improving health conditions in a substantial number of still unserved areas.

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