EIB to fund $1.5ln water projects in Egypt

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The European Investment Bank (EIB) is planning to offer $1.5 billion to Egypt to fund projects which are mostly focused on water treatment, Asharq Business reported on November 13th, citing the bank’s Vice President, Gelsomina Vigliotti.

The bank collaborates with the Egyptian government to link water, food, and energy projects in order to actualize a strategy that is considerate of climate change in several aspects pertaining to the economy and the impact on the population, Vigliotti added in an interview on the sidelines of the United Nations Climate Change Conference (COP27).

Vigliotti noted that the bank would also work with Egypt in the transport and energy sectors, given their association with carbon dioxide emissions.

She revealed that EIB worked in water desalination projects in other countries in the region, including Jordon’s Amman-Aqaba line, which is a major desalination project executed in partnership with international partners and the private sector.