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Sunday, 12 July 2020

National Bank of Egypt, IFC sign agreement to fund solar water pumps in agriculture; agreements with USAID and Canada

GERD aside (see Speed Round, above) It’s all about foreign funding for development and infrastructure projects this morning. The National Bank of Egypt and the International Finance Corporation signed an agreement to increase local funding for solar-powered water pumps in agriculture, according to a statement (pdf).

Help from the US, Canada: The International Cooperation Ministry signed six new agreements worth a total of USD 90 mn with USAID, according to a cabinet statement. The grants will be used to fund development projects in education, scientific research, science and technology, health, trade and investment, and agriculture. Separately, the ministry inked two agreements worth a combined CAD 14 mn with the Canadian embassy focused on the socio-economic empowerment of women, a cabinet statement said.

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