The AFD loan agreement for the Improved Water Supply and Wastewater Services Program in the Nile Delta (IWSP) has been signed
The Financing agreement for a concessional loan of 40 million euros from the French Development Agency was signed on April 29th by HE Jean Felix-Paganon, Ambassador of France in Egypt and Mr.Jean-Hubert Moulignat, Director of the AFD office in Cairo, with the Central Bank of Egypt.
The loan will finance the Improved Water and Wastewater Services Program (IWSP) in the Nile Delta i.e. in the governorates of Damietta, Sharqeyah, Gharbeya and Beheira. The project aims to improve water services and sanitation to almost 16 million people. AFD cofinances the program with European development institutions: European Union (with the Neighbourhood Investment Facility), the German KfW and the European Investment Bank (EIB), for a total of 295 million euros.HE Jean Felix-Paganon, Ambassador of France in Egypt and Jean-Hubert Moulignat, Director of the AFD office in Cairo have signed the financing agreement for a concessional loan amounting to 40 million euros with the Central Bank of Egypt (Mr. Hisham Ramez, Deputy Governor and Mr. Mohamed Tammam, Assistant Deputy Governor) and the Ministry of Housing, Utilities and Urban Development (Mr. Ali Ahmed, First Under-secretary) on April 29th, 2010. The loan will finance the Improved Water Supply and Wastewater Services Program (IWSP) in the Nile Delta in the governorates of Damietta, Sharqeyah, Gharbeya and Beheira. The project objective is to improve water service and sanitation to almost 16 million people. Emphasis will be put on the sanitation aspect to reduce pollution of surface water and reduce health risks related to poor water quality for the population. This project will be implemented by the Holding Company for Water and Wastewater and its four subsidiaries in the governorates. AFD co-finances the program with European development institutions: the European Union (Neighbourhood Investment Facility), the German KfW and the European Investment Bank (EIB), for a total of 295 million euros (2.2 billion Egyptian pounds). The IWSP program is the first project to implement concretely the principles of aid harmonization as the four development institutions worked together to harmonize their procedures.