EU provides €117.9 mln grant to support Egypt’s water, energy budgets

Doaa A.Moneim , Thursday 21 Jul 2022

The European Union (EU) has provided Egypt with a €117.9 million grant in order to support the government’s water and energy budget, Egypt’s Ministry of International Cooperation announced on Thursday.

Minister of International Cooperation Rania Al-Mashat
Minister of International Cooperation Rania Al-Mashat

 

The ministry said that the grant amount will be directed to ministries of irrigation, housing, finance, electricity and petroleum.

Minister of International Cooperation Rania Al-Mashat stated that the grant comes in light of the EU-Egypt strategic relationship and their continuous cooperation, also noting that it is in line with the state’s efforts to boost its green transition and the execution of the eco-friendly projects ahead of hosting the UN Climate Change Conference (COP27).

“Water and energy sector are priorities for the government, as the two sectors play a role in preserving Egypt’s economic growth and enhancing sustainable development. The government adopts ambitious plans aim at boosting the sustainable management of water resources through expanding in sea water desalination and waste water treatment projects,” the minister further noted.

Egypt’s energy sector, Al-Mashat explained, has been significantly improved over the past eight years, adding that the country’s mega projects have managed to transform an energy deficit into a surplus and also help it to export energy to other countries.

“Egypt has also moved forward in terms of expanding in renewable energy projects in partnership with development partners, foreign and local private sector and governmental bodies, as Egypt plans to be a regional hub for energy,” Al-Mashat said.

It is worth noting that current cooperation portfolio between Egypt and the EU reaches €1.3 billion in the form of grants that supports sectors including transport, water, agriculture, small and medium-sized enterprises (SMEs), renewables, social protection, governance, civil society and capabilities building.

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