European banks provide $329 million for Egyptian water projects
A 1.3-billion Egyptian pound ($329 million) project, aimed at improving irrigation and sewage networks in Egypt’s Naga Hamadi region, is expected to begin next year, according to recent reports.
The project, financed by loans from two unnamed European banks, is expected to reach completion within five to six years, thus improving the country’s water systems in an environment-friendly way.
Egypt is one of eight countries, along with Ethiopia and Sudan, which depend on water from the Nile River. Each year, Egypt draws nearly 55.5 billion cubic meters of water from the Nile, fulfilling most of the country’s water consumption demands, which presently stand at an annual 66.34 billion cubic meters annually.
Statistics reveal that by the year 2017, Egypt will require 30 percent more water supplies, that is an additional 20 billion cubic meters. However, Egyptian officials have stressed Egypt’s efforts to maintain its distance from the imminent regional water crisis, with the help of numerous contracts signed with other Nile Basin member states for fair access to the precious resource.
Egyptian water officials are confident that by drawing 11.27 billion cubic meters from underground sources, while recycling 8.4 billion cubic meters of agricultural sewage water, they can significantly fulfill water requirements in the country. Water desalination projects may also be explored in Egypt to further raise its water supply in the future. ― (MENA Report)
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