Bank mulls $170m funding for Egypt infra projects

Power plant and sewer projects may be funded in part by African Development Bank Group

Egypt often relies on external funding to further its infrastructure targets
Egypt often relies on external funding to further its infrastructure targets

The African Development Bank Group (AfDB) is considering a $170m financing proposal for two infrastructure projects in the country.

The projects include $100m for West Delta Electricity Production Company to construct a power plant in Damanhour, and $70m for a sewage project in the country, a senior official from the bank told news website Amwal Al Ghad on Monday. 

The two projects worth $600m might be included in AfDB’s strategy to finance infrastructure and energy projects in Egypt this year. In April 2015, AfDB approved a $140m loan towards the expansion of Egypt’s Sharm El-Sheikh airport.

Egypt also recently received funding from World Bank, which approved a $500 million loan to help finance the construction of one million housing units for low-income residents over five years.

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