Release date: 4 August 2017
Promoter – Financial Intermediary
HOLDING COMPANY FOR WATER AND WASTEWATER
The project concerns the depollution of Kitchener drain in the Delta region in Egypt.
The project aims at the depollution of the Kitchener Drain through investments in: (i) wastewater & sanitation; (ii) solid waste, and (iii) drain infrastructure rehabilitation. The Kitchener Drain is one of the most severely polluted drains in the Egyptian Nile Delta. The project is expected to significantly improve health and social conditions in the surrounding areas.
The project is expected to be co-financed by EIB and EBRD whereby EIB financing would focus on the wastewater & sanitation project components and EBRD financing would focus on the solid waste and drain rehabilitation project components. The EIB and EBRD will be a seeking a EU grant contribution from the Neighbourhood Investment Facility for this project.
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
Under ELM Guarantee
This operation is covered by the EU Guarantee for EIB loans outside the EU.
Proposed EIB finance (Approximate amount)
EUR 233 million
Total cost (Approximate amount)
EUR 441 million
The project is expected to have substantial environmental and social benefits as it addresses the deteriorated condition of water in the highly polluted Kitchener Drain. Any potential adverse environmental and social impacts are site-specific and can be prevented and/or readily minimised through appropriate mitigation measures and by adhering to globally recognized performance standards, guidelines, and/or design criteria, including EIB environmental and social principles, standards and practices.
The Bank will require the promoter to ensure that implementation of the project components financed by the Bank will be done in accordance with the Bank's Guide to Procurement.
Signed - 18/12/2018
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).