EU lays out its new strategy for the SouthMed — and that includes Egypt
Water, public transit and a green economy will become the focus of the European Commission’s support to Egypt under its new agenda for the Southern Mediterranean region (pdf), which was announced yesterday. The commission has allocated up to EUR 7 bn in direct funding in addition to an estimated EUR 30 bn in funds that will be mobilized indirectly through public and private sector financing for the entire region between 2021-2027. How much of this will be allocated to Egypt remains to be seen.
Egypt-focused initiatives will include support for upgrades to our public transit infrastructure, diversifying our clean energy sources, and supporting public and private investment in water management. The report specifically named support for the National Water Resources Plan which will include waste water management, irrigation upgrades and canal rehabilitation. Other programs which the strategy broadly defined as regional goals include a push for wider digitalization, education, judicial reform and human rights reform.
IN OTHER DEVELOPMENT NEWS:
The European Bank for Reconstruction and Development will provide a EUR 1 mn grant for advisory services to the Tenth of Ramadan City dry port project under an agreement with the General Authority for Land and Dry Ports. The grant will go towards “preparation and procurement” for the project, according to a bank statement.
BACKGROUND- The new dry port “is part of Egypt’s transport master plan, which recommends the development of an intermodal corridor” between the Mediterranean and Red Sea coasts, the statement notes. The project is designed to cut down on congestion at seaports and help streamline customs procedures, which will in turn help local producers become more competitive and contribute to sustainable economic growth.