The European Investment Bank intends to provide a new financing for Egypt worth $ 1. 5 billion, most of which will be concentrated in the water treatment sector.
According to the deputy head of the bank, Gilsumina Felioiti, the bank focuses with the Egyptian government to link water, food and energy to implement a strategy that looks at climate change in several aspects related to the economy and influence the population.
Felioiti said that the bank will work with Egypt in the transport and energy sectors, due to their association with carbon dioxide emissions.
According to the deputy head of the European Investment Bank, the bank is working on projects in other countries in the region in the field of desalination, as the Amman line is funded by Aqaba in Jordan, which is a huge impartial project with international partners, in addition to the private sector as well.
The bank also works with countries in the Gulf region and is looking to work with Morocco.
“Felioiti” indicated that there are 3. 5 billion euros in investments in the Middle East and North Africa region, and that Egypt is one of the countries where the bank runs major operations. Last year alone inves a billion euros in Egypt.
The European Investment Bank is one of the largest investment institutions in the world, as it oversees investments with more than 60 billion euros, of which 30 billion for climate activities.
From the climate for climate, the bank invests 4. 5 billion euros in Africa, and 2. 5 billion euros in Egypt.
Egypt had launched the “Novi” program at the beginning of last July, a program that represents one of the Egyptian government’s mechanisms to reduce carbon emissions by attracting funds to implement a green projects package until 2030 in 3 main sectors: water, food, and energy.
Source: Egyptian media.
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