Brussels, 07/01/2014 (Agence Europe) - At the end of last year, the European Investment Bank (EIB) signed finance contracts totalling €187 million in the water, transport and SME sectors in Egypt. It also signed a commitment to provide €205 million for an energy project.
In greater detail, the EIB has decided to lend: - €57 million in support of the Improved Water and Wastewater Service Programme II in Upper Egypt, which aims to use water resources more efficiently in order to improve the sanitation and environmental conditions of the population; - €50 million for the upgrading of air traffic control (ATC) services to enhance safety and efficiency; - €80 million to the Bank of Egypt to finance projects carried out by SMEs in the country's productive sectors; - and €205 million for conversion of the El Shabab power plant from open-cycle to combined-cycle gas turbine technology. (OL/transl.jl)