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Thursday, 26 July 2018

Gov’t inks contracts with EIB for its EUR 172 mn contribution to Fayoum wastewater project

Gov’t inks contracts with EIB for its EUR 172 mn contribution to Fayoum wastewater project: Investment and International Cooperation Minister Sahar Nasr signed yesterday a EUR 172 mn loan agreement with the European Investment Bank (EIB) to help upgrade sewage and wastewater systems in Fayoum, Al Mal reports. The loan is part of a EUR 448 mn package from the EIB, EU, and European Bank for Reconstruction and Development (EBRD). The government had already signed a contract with the EBRD for its EUR 186 mn portion of the facility last year. The funding will support the construction of eight new wastewater treatment plants, the expansion and rehabilitation of 19 units, and the procurement of 350 sewage removal trucks to serve remote rural communities. The project will also reduce pollution levels at Lake Qarun.

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