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The Egyptian Ministry of International Cooperation announced on Tuesday that it has secured development loans and grants totalling $2.24 billion to implement sustainable projects in transportation, water, renewable energy, food security, and environment.
Transportation
· $279 million loan and a $2 million grant from the European Bank for Reconstruction and Development for upgrading and renovating Line 2 of Cairo Metro.
· $278 million loan from French Development Agency AFD to finance the upgrade and electrification of existing 22-km railway line between Alexandria and north-eastern town Abou Qir and convert it into a high-capacity metro line.
· $177 million loan from Spain [Spanish export agency FIEM] to implement a project to modernise 23 trains of the 44-km Line 1 of Cairo Metro
· $400 million in funding from the World Bank for Cairo Alexandria Trade Logistics Development Project. The project includes implementing a railway bypass to the congested Alexandria–the 6th of October–Greater Cairo Area (GCA) railway corridor and upgrading the track and signalling on four segments.
Sustainable Water Resources Management
· $12 million grant from the German Agency for International Cooperation (GIZ) for the Nile Delta Water Management Program project.
· $1 million grant from Switzerland for Drinking Water Management Project in Upper Egypt – Phase 2.
· $50 million loan from Kuwait Fund for Arab Economic Development to finance the construction of 4 desalination plants in South Sinai governorate.
Renewable Energy Projects
· $92 million loan from the African Development Bank to finance Egypt’s Electricity and Green Growth Support Programme.
· $1 million grant from AFD – the French development agency, for strategic technical cooperation between Egypt and France for developing green hydrogen sector.
Food Security
· $500 million loan from the World Bank Group for Emergency Food Security and Resilience Support Project. The project will finance the public procurement of imported wheat for the Bread Subsidy Program, the upgrade and expansion of climate-resilient wheat silos and sustainably improve domestic cereal production,
· $271 million agreement with African Development Bank for the Food Security and Economic Resilience Support Programme
· $111 million in development funding from the European Union under Food and Resilience Facility
· $47 million from USAID for the Agribusiness for Rural Development and Income Increase project.
Environment
· Agreement signed with US Agency for International Development (USAID) for a $15 million grant.
(Writing by Eman Hamed; Editing by Anoop Menon)
