Germany’s Development Bank Provides €1.8bn to Aid Capital Projects in Egypt

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Germany’s KfW Development Bank is providing about €1.8 billion for ongoing projects in Egypt, said director of KfW Office Cairo Burkhard Hinz.

In press statements on the sidelines of “Germany Festival in the Nile Delta,” Hinz added that the funds provided by the bank to Cairo have totaled €5.5 billion since it started working in Egypt in the 1960s.

The KfW Development Bank has financed the establishment of some 900 basic education schools, carrying out water projects that benefited around four million persons in the Delta governorates in addition to irrigation projects that served about seven million persons across Egypt, he said.

The official also pointed out to the projects funded by the bank to irrigate 3.25 million feddans throughout the country.

Meanwhile, Hinz revealed that the KfW Development Bank plans to finance new projects in the Upper Egyptian governorates of Qena, Sohag, Assiut and Minya. (MENA)

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