The European Bank for Reconstruction and Development (EBRD) has approved a €200 million ($217 million) loan for wastewater treatment projects in 84 villages in Egypt’s Fayoum governorate, Egyptian Housing Minister Moustafa Madbouli said Wednesday.
Madbouli made these statements following his meeting with the bank’s officials held in Nicosia, Cyprus, on the sidelines of the EBRD 2017 Annual Meeting and Business Forum.
“The bank’s officials said they’re ready to sign the agreement and waiting the Egyptian government to fix the time.” Madbouli added.
The new loan is part of the EBRD’s Fayoum Wastewater Expansion Programme that aims to contribute to the depollution of Lake Qarun: Lake Qarun is the third largest lake in Egypt and an important natural freshwater resource for economic activities in Fayoum. The projects will substantially contribute to reduced pollution of Lake Qarun, to positively affect community health and key related economic opportunities in Fayoum, including fishing, fish-farming, and tourism related activities.
