Arab Finance: Egypt’s Cabinet approved a draft presidential decree covering two grants from the African Development Bank (AfDB) to finance preparations for the water desalination using renewable energy project, as per a statement.
The project falls under the water pillar of Egypt’s Nexus of Water, Food and Energy (NWFE) program. The grants will support technical studies and environmental and social impact assessments required before implementation.
The first grant, worth €500,000, will be provided by the African Water Facility to finance technical studies for five renewable energy-powered desalination plants.
The facilities will be developed through public-private partnerships across four governorates and are expected to add a combined 525,000 cubic meters of water per day.
A second grant of 280,000 Units of Account (UA) will come from the AfDB’s Middle Income Country Technical Assistance Fund.
The funding will support environmental and social impact assessments for the project and capacity-building programs for water sector workers.
The project seeks to increase the availability of desalinated water for different uses and strengthen Egypt’s water security.
