{"id":587242,"date":"2023-05-24T00:00:00","date_gmt":"2023-05-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/24\/afdb-mobilizes-usd-2-2-bn-to-bolster-egypts-water-security\/"},"modified":"2023-05-24T00:00:00","modified_gmt":"2023-05-24T00:00:00","slug":"afdb-mobilizes-usd-2-2-bn-to-bolster-egypts-water-security","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/24\/afdb-mobilizes-usd-2-2-bn-to-bolster-egypts-water-security\/","title":{"rendered":"AfDB mobilizes USD 2.2 bn to bolster Egypt\u2019s water security"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">The AfDB has raised more finance than expected for water projects in Egypt: <\/span><span style=\"\">The African <\/span><span>Development Bank (AfDB) has mobilized USD 2.2 bn to improve Egypt\u2019s water security under the government\u2019s Nexus for Water, Food and Energy (NWFE) program, up from the initially <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/196346a6-9073-4ec3-be85-d7263213092b\" style=\"\">targeted USD 1.4 bn<\/a><\/span><span>, the bank\u2019s president <\/span><span>Akinwumi Adesina said<\/span><span> yesterday. The money will \u201csupport desalination and water treatment plants for agriculture,\u201d he said, speaking at the bank\u2019s annual meetings in Sharm El Sheikh <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=GGfTbITvlcI\" style=\"\">watch, runtime: 3:31:35<\/a><\/span><span>). <\/span><span>The lender was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/moic.gov.eg\/news\/905\" style=\"\">tapped as the lead partner on NWFE\u2019s water pillar<\/a><\/span><span> last year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">More to come: <\/span><span>The AfDB\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/topics-and-sectors\/initiatives-partnerships\/climate-investment-funds-cif\/just-transition-initiative\" style=\"\">Just Green Transition initiative<\/a><\/span><span>, which utilizes financial and technical support from the Climate Investment Funds to help African nations transition to \u201clow-carbon and climate-resilient development,\u201d has over <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/news-and-events\/press-releases\/egyptian-leader-lauds-african-development-bank-supporting-continent-through-tough-times-60303\" style=\"\">USD 14.8 bn of projects<\/a><\/span><span style=\"font-weight:400;\"> in the pipeline for the NWFE program. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">NWFE? <\/span><span style=\"font-weight:400;\">The International Cooperation Ministry\u2019s program seeks to raise blended finance for nine projects worth a combined USD 15 bn. These include a massive energy project, five projects in the field of agriculture and food security, and three in irrigation and water resources. The program was launched ahead of last year\u2019s COP27 climate summit. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A lot of big names have already committed funds: <\/span><span>The European Bank for Reconstruction and Development \u2014  the lead partner on NWFE\u2019s energy pillar \u2014 has allocated <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6de6e137-c444-4227-8153-71e7742f4808\" style=\"\">U<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6de6e137-c444-4227-8153-71e7742f4808\" style=\"\">SD 200-300 mn<\/a><\/span><span> to the energy track of the program. The money will help Egypt to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/bb47fa0e-86be-4684-9bfb-ee1067524e29\" style=\"\">decommission 5 GW of gas-fired power plants<\/a><\/span><span style=\"font-weight:400;\"> starting this year. The International Fund for Agricultural Development (IFAD) is committing USD 200 mn to the food track, while a number of other organizations partnering with IFAD are providing another USD 775 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AfDB is no stranger to Egypt\u2019s water projects: <\/span><span>The bank has lent the Madbouly government some <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/documents\/egypt-gabal-el-asfar-wastewater-treatment-plant-stage-ii-phase-ii-project-project-completion-report\" style=\"\">USD 57.5 mn<\/a><\/span><span> for wastewater treatment plant in Cairo\u2019s Gabal El Asfar and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.afdb.org\/en\/success-stories\/egypt-abu-rawash-wastewater-treatment-plant-model-sustainable-development-60110\" style=\"\">USD 150 mn<\/a><\/span><span style=\"font-weight:400;\"> for the wastewater treatment plant in Abu Rawash.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SISI + MADBOULY IN SHARM-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">President Abdel Fattah El Sisi held meetings with a number of African leaders<\/span><span style=\"\"> \u2014 from <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02CBKMQjAQFebtnWiTctNcKmm729DTeE9sDvTrgidhUA4SpfVYK5opU9YFGctB9T3sl\" style=\"\">Comoros<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0qXie936juwxeWpmSmDusvwyc9coong55sBpA2nRKPxJCFs15YgyGw9k6prw2suFdl\" style=\"\">Zimbabwe<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02Mjzgg5TjSg5vYzPdYmUhLQ8KEaazwNHTVab6jjRZndP3RHAzvSzUF9E4KhY4MeyWl\" style=\"\">Burundi<\/a><\/span><span> \u2014 on the sidelines of the meetings. He also held discussions with the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0WGiap9frYugSD25YrXYACLHqQt1SbizcEMQhddETa1HaKwcwEi2AwLzF9E2Q2HBhl\" style=\"\">COMESA secretary general<\/a><\/span><span>, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid02Zd13MUSkgmhMBmQQegRehCkhLvhpug7TYBbny2Qz4oxH7CyNL74LuLqxK6Mz6hMil\" style=\"\">head of the African Union Development Agency<\/a><\/span><span>, and head of the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/Egy.Pres.Spokesman\/posts\/pfbid0voHhE6r9VZwZ1euuzbAv5fKeNpEdKRuZatAnH9GAWdndyWrsD98n7aXkKMPeeiMtl\" style=\"\">African Union Commission<\/a><\/span><span style=\"font-weight:400;\"> on all things trade and investment. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It was a busy day for Madbouly too: <\/span><span>Prime Minister Moustafa Madbouly discussed <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid035nYjKSwP1Mu4LKZqmiTfgJ8zSFKxpQdTYFEq9E4sU5b2crx5xvR3Afw3snnNnr5Rl\" style=\"\">healthcare cooperation<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid0uefs9i6j2NGjoxF1qrPMd6r7bidymGjbY6w6Qnpzd3re3TFZtdh1TyxNG6aaMaXNl\" style=\"\">livestock imports<\/a><\/span><span> with his Somali counterpart Hamza Abdi Barre. The PM also <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02WzDWowa3tz28ucfxWSvn6Fp4LJiucNcAB2TGyRebeBSxk2ZkAAANAFEf89xhyhG7l\" style=\"\">held talks<\/a><\/span><span> with the Qatari Social Development Minister Maryam Al Misnad. The AfDB meetings run through to Friday. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funding will support desalination and water treatment plants for agriculture<\/p>\n","protected":false},"author":1,"featured_media":587243,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7576],"tags":[1376,101,72,6328,6743],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-587242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development-finance","tag-african-development-bank","tag-development-finance","tag-enterpriseam","tag-nwfe","tag-water-security","wpautop","entry"],"acf":{"mongo_id":"7817579d-ada8-4f9e-9b92-48d2aab54d3a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1306.jpg","photo_position":"above","homepage_title":"","full_issue_title":"AfDB mobilizes USD 2.2 bn to bolster Egypt\u2019s water security","related_issue":[587237],"teaser":"The funding will support desalination and water treatment plants for agriculture","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/5\/.53615ec1-0672-4adc-a655-94fdfd8eb323.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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