Egypt provides $188mln guarantee to Holding Co. for Water and Wastewater

The financial guarantee will help the company establish water desalination projects

  
Image used for illustrative purpose. water treatment plant.

Image used for illustrative purpose. water treatment plant.

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Cairo – The Egyptian Ministry of Finance will provide the Holding Company for Water and Wastewater with EGP 3 billion in guarantees under a new law recently approved by the President Abdel Fattah El-Sisi.

The financial guarantee will help the company establish water desalination projects in Marsa Matrouh, Safaga, Quseir, and Marsa Alam, the Minister of Finance, Mohamed Maait, said in a statement on Wednesday.

This came in line with the country’s water conservation plan which aims to optimise the use of water resources through advanced technologies.

Maait further revealed that the state budget for fiscal year 2020/2021 provides a grant of EGP 6.4 billion to support the social housing programme and EGP 3.5 billion to provide 1.3 million households with access to natural gas.

Source: Mubasher

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