Egypt’s Cabinet approves $550M WB loan to finance sustainable sanitation
Prime Minister Sherif Ismail - YOUM7
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CAIRO: Egypt’s Cabinet approved Wednesday a presidential decree on a $550 million World Bank loan to finance a sustainable sanitation program in rural areas.

The agreement between Egypt and the World Bank was signed Oct. 4. The total cost of the project is projected to reach $2.8 billion, in which the WB is contributing $1.1 billion over two stages, at $550 million each, said Minister of International Cooperation Sahar Nasr during the signing formalities.

The program aims to improve sanitation services in 155 villages of 833,000 citizens, through establishing around 167,000 new water and sewer connections from houses to sanitation networks.

“The new project in Egypt will improve sanitation services for more than 800,000 poor Egyptians in the Nile Delta where there is need to increase access to water, waste disposal, and health services,” according to the WB Egypt website in July.

Per another World Bank loan, 1,000 medical units will be established by 2017 in Egypt’s poorest villages, an official source at the Health Ministry told Youm7 Sunday.

The World Bank approved the $75-million loan in November 2014, according to the State Information Service, but passed it last September after President Abdel Fatah al-Sisi approved the conditions of the loan.

The loan will be paid back over 20 years at an interest of 2.5 percent. Meanwhile, the Health Ministry has formed a central administration to manage grants and loans, Youm7 reported.

The project aims to serve 1,000 villages that will benefit from the healthcare promotion.

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