Egypt, EIB mull further cooperation in water resources management

Updated 5/26/2024 4:34:00 AM

Arab Finance: The Minister of International Cooperation Rania Al-Mashat has welcomed a delegation from the European Investment Bank (EIB) to mull over ways to strengthen cooperation in the field of water resources management, as per a statement.

This meeting comes within the framework of the close ties between Egypt and the EIB, particularly in light of the agreement signed last March to upgrade the relations between Egypt and the European Union (EU) to the level of strategic partnership.

During the meeting, Al-Mashat stressed the importance of the joint efforts made to enhance the developmental priorities of Egypt, referring to the priority given by the government to water projects due to their utmost significance in achieving comprehensive and sustainable development.

Moreover, she emphasized that water is one of the vital sectors in the field of climate action, as it enhances the implementation of the sixth goal of the Sustainable Development Goals related to clean water and sanitation, along with many other goals.

It is worth noting that Egypt has established a new partnership framework with the EIB for 2021-2027 to boost areas of joint cooperation, mainly in the sectors of health, education, environment, energy, water treatment, transport, agriculture, and supply.

During the period from 2020 to 2024, the EIB funded two projects in the field of water. The first project was the expansion and development of a sewage treatment plant in Alexandria at a value of $138 million, and the second, worth $88 million, was the treatment of sewage water in Helwan.