EU grants Egypt €117.9M to support water, energy sectors – Egypt Today

EU grants Egypt €117.9M to support water, energy sectors – Egypt Today

CAIRO - 21 July 2022: The European Union will grant Egypt €117.9 million to support water and energy sectors, according to the Ministry of International Cooperation. The ministry clarified Thursday that the grant will benefit the ministries of housing, utilities, urban communities, water resources, irrigation, finance, petroleum, mineral wealth, electricity and renewable energy. Minister of International Cooperation, Rania Al-Masha, said that the grant aims to support the state's development plans and priorities through effective development cooperation, and in line with the efforts made by the state to promote the transition to a green economy and implement environmentally friendly projects, especially as Egypt prepares to host the United Nations Climate Conference COP27. She added that the new grant comes within the framework of keenness to consolidate international partnerships, achieve maximum benefit from development finance, and enhance bilateral and multilateral cooperation, emphasizing Egypt's commitment to strengthening international cooperation mechanisms and development financing. The minister explained that the water and energy sectors in Egypt are given a great priority by the government because of their importance in maintaining economic growth rates and promoting sustainable development. “The government is working on ambitious plans to enhance the sustainable management of water resources through the expansion