Egypt & AfDB Sign Agreement for Second Phase of Private Sector Support Program Worth $170 Million: Ministry
Egypt & AfDB Sign Agreement for Second Phase of Private Sector Support Program Worth $170 Million: Ministry
Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat also signed an agreement with African Development Bank Country Manager Abdourahmane Diaw on a $400,000 grant to enhance sustainability at the Abu Rawash wastewater treatment plant.
The Egyptian minister noted that the agreement is part of broader government efforts to mobilize concessional financing to support the budget and expand fiscal space for spending on promoting structural reforms.
The statement notes that the second phase of the program to finance private sector development and economic diversification continues the first phase, approved by parliament in December 2024, for the amount of $131 million.
In May of last year, the Egyptian government signed an agreement with the AfDB to finance the fourth phase of the Abu Rawash wastewater treatment plant expansion, which will increase its treatment capacity from 1.6 million to 2 million cubic meters per day.
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