The European Union (EU) has dedicated a grant worth €117.9 million to support the water and energy sector’s budget in Egypt, according to an official statement by the Egyptian Ministry of International Cooperation on July 21st.
The Ministry of Housing, Utilities, and Urban Communities, the Ministry of Water Resources and Irrigation, the Ministry of Petroleum, and the Ministry of Electricity and Renewable Energy will be benefiting from the financing.
The grant comes in line with the strategic ties and the ongoing cooperation between Egypt and the EU, with the aim to support the country’s development plans and priorities through fruitful collaboration, Minister of International Cooperation Rania Al-Mashat said.
The government adopts ambitious plans to bolster the sustainable management of water resources, the minister noted, adding that the energy sector has seen huge development over the last 8 years due to the major national projects being carried out.
It is worth noting that the current cooperation portfolio between Egypt and the EU amounts to around €1.35 billion.
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