The European Bank for Reconstruction and Development (EBRD) has agreed to provide a loan of up to €186m to the Fayoum Water and Wastewater Company for the development and expansion of its wastewater services in Egypt.
The EBRD loan will be supported by a loan of €172m provided by the European Investment Bank, while the EU Neighbourhood Investment Facility (NIF) is extending an investment grant of €30m and more than €7m for technical assistance.
The financing will be used for the construction of eight new wastewater treatment plants, the expansion of nine units and the rehabilitation of 10 plants, as well as the installation of 3,433km of pipes and 139 pumping stations.
Furthermore, 350 sewage removal trucks will be procured to serve remote rural communities.
EBRD said that the investment will increase the company’s treatment capacity by almost 300,000 cubic metres per day and provide sanitation services to almost 90% of the rural population in the Fayoum governorate.
EBRD managing director for the southern and eastern Mediterranean region and head of the EBRD in Egypt Janet Heckman said: “We are proud to sign a project that combines the strategic priorities of the EBRD with those of Egypt.
“It is a vital investment for the country and will not only develop the wastewater infrastructure, but also improve the environment and contribute to employment in a remote rural area substantially.”