Egypt and the African Development Bank Group penned a financing agreement for the fourth phase of the Abu Rawash Water Treatment Plant

The African Development Bank (AfDB) has greenlit a $170 million loan to support Egypt’s private sector development and economic diversification, with a main focus on green growth.

African Development Bank Group (AfDB), along with development partners, has mobilized $2.2 billion to support Egypt’s water security, up from the previous mobilization target of $1.4 million.

Egypt is looking forward to boosting cooperation with the African Development Bank Group (AfDB) in various areas over the coming period, President Abdel Fattah El-Sisi said in a meeting with AfDB’s President Akinwumi Adesina and his accompanying delegation on April 4th.

“Through my follow-up on the ongoing preparations, and my presidency of the Board of Governors of the African Development Bank, I can confirm that this edition of the meeting will be distinguished, thanks to the attention to detail and continuous coordination at the highest levels between the Egyptian side and the African Development Bank,” he added.