Egypt finalises finance for south Sinai desal plants

The Kuwait Fund for Arab Economic Development (KFAED) is to loan $100 million to the government of Egypt, completing the finance for five desalination plans in south Sinai.

Egypt is building desalination capacity in Sinai to support economic development

Egypt is building desalination capacity in Sinai to support economic development

The agreement was signed by Egypt’s minister of investment and international co-operation, Sahar Nasr, and Abdel Wahab El Badr, director of KFAED, at the annual meeting of Arab financial institutions, which opened in Jordan on 10 April 2018.

The loan completes financing for five plants, for which earlier loan agreements were signed during 2016. The original proposal was to complete five desalination plants, eight pumping stations, and 42 kilometres of pipeline, by 2019.

Additionally, KFAED is financing a desalination plant at East Port Said, Egypt.

The loans form part of a $900 million, three-year investment programme to develop Sinai Peninsula.

* The 2018 annual meeting of Arab financial institutions comprised the Arab Fund for Economic & Social Development, Arab Investment and Export Credit Guarantee Corp., Arab Monetary Fund, Arab Bank for Economic Development in Africa, and Arab Authority for Agricultural Investment and Development.


Tags

Africa | Egypt | Jordan | Kuwait


Click a keyword to see more stories on that topic, view related news, or find more related items.

© Faversham House Group Ltd 2018. Water. desalination + reuse news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.