EBRD to lend Egypt EUR 148 mn for Kitchener Drain depollution project
The European Bank for Reconstruction and Development (EBRD) approved EUR 148 mn in loans to Egypt for the Kafr El Sheikh Kitchener Drain depollution project. The first EUR 69 mn loan will be directed towards rehabilitating the drainage system. The bank is also providing a EUR 79 mn facility to finance the purchase of containers and tractors to collect municipal solid waste and construct up to six treatment facilities, and five sanitary landfills. A third component of the depollution project will likely be financed by the European Investment Bank, according to the EBRD.