Egypt signed Friday a €10 million grant from the European Union in favour of the third part of the Egyptian Pollution Abatement Programme (EPAP III).
EPAP III’s purpose is to lead to environmental improvement in Egyptian hot spot areas, where polluting emissions are significant and where notably air and water pollution negatively impact on the surrounding population and environment) through pollution abatement investments. Consequently, it is not expected that significant negative impacts will be generated through its implementation. Moreover, the operation will lead to a reduction of industrial emissions and increased environmental enforcement capacity of the Egyptian Environmental Agency.
The EU grant is part of a financing package totalling €145 million undertaken jointly with European partners, and includes support from the European Investment Bank, the French Development Agency (AFD) and KfW Development Bank, in the form of €70 million, €50 million, and €15.42 million loans, respectively.
The grant agreement was signed by Egyptian Minister of International Cooperation Sahar Nasr.
EPAP III will finance public and private industrial companies that will invest in pollution abatement technologies while assisting the industry in complying with environmental regulations. It aims to alleviate the environmental consequences of the rapid population growth, ambitious development and industrialization policies experienced by Egypt.
The project will establish sustainable mechanisms for environmental improvement of private and public industries and at enhancing technical capability of all relevant authorities and banks to handle industrial pollution providing preferential treatment to small and medium-size industrial enterprises.
The Egyptian Pollution Abatement Project, initiated in 1997, is the largest industrial pollution abatement in Middle East and Africa, and the third phase project, effective as of January 2015, builds upon the successful collaboration developed during Phase I and Phase II.
