European Investment Bank to Invest for Egypt's Water Treatment Sector

The European Investment Bank (EIB) is looking to provide USD 1.5 billion in financing to help support Egypt's water treatment sector. The agreement is due to be finalised during the COP27 UN Climate Change Conference in Sharm El Sheikh. The bank and the government of Egypt will focus on linking water, food and energy to tackle the challenges of climate change from multiple angles in order to mitigate its impact on the economy and the population at large.

Since 1979, the EIB has cooperated with Egypt to support the country's economy and infrastructure. In 2018, the EIB has financed the Fayoum Wastewater Expansion project with EUR 126 million, and the Kitchener Drain de-pollution project with EUR 214 million, in order to improve sanitation services and depopulation efforts across Egypt's water sources.