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Sunday, 5 November 2017

KfW currently financing EUR 1.8 bn-worth of projects in Egypt

Germany’s KfW is currently financing EUR 1.8 bn-worth of projects in Egypt, the bank’s country director Burkhard Hinz told the press on Friday, the state news agency reports. The development-centered institution focuses on three main areas in Egypt, he added, listing infrastructure projects (including water, solid waste management, and renewable energy), vocational training programs, and support for primary education. Hinz said that the bank has provided Egypt with a total EUR 5.5 bn since it began operating here in the 1960s, helping fund the development of 900 primary schools, as well as various irrigation and water projects. The bank is currently eyeing new projects in Upper Egypt.

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