Ongoing cooperation portfolio bet. Egypt, AfDB records $640.8M
- Date: 05-Mar-2021
- Source: Egypt Today
- Sector:Financial Services
- Country:Egypt
Ongoing cooperation portfolio bet. Egypt, AfDB records $640.8M
The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. - Reuters
CAIRO – 4 March 2021: Ongoing cooperation portfolio between Egypt's Ministry of International Cooperation and the African Development Bank (AfDB) amounts to about $ 640.8 million.
The Ministry of International Cooperation noted in a statement, Thursday, that the portfolio covers various development sectors such as electricity, health, research, entrepreneurship, budget support, and water and sanitation.
Earlier in Thursday, Egypt's Ministry of International Cooperation signed Thursday a development financing deal worth €109 million with the AfDB.
The deal stipulates that the AfDB will provide sanitation services in residential communities in Luxor's rural areas.
The AfDB will provide Egypt with €108 million alongside a €1 million grant through the project under implementation so that 22 thousand homes in Luxor will benefit, according to Ministry of International Cooperation.
The African Development Bank's (AfDB) Deputy