ANNOUNCEMENT 19 Aug 2020
In August 2020, the Ministry of Finance granted EGP 3 billion to Egypt's Holding Company for Drinking Water and Sanitation to carry on water desalination projects in different governorates.
NUMBER OF INTERVENTIONS
Ministry of Finance, وزير المالية:«ضمانة» بثلاثة مليارات جنيه للشركة القابضة لمياه الشرب والصرف الصحى.
19 August 2020, Available at: http://www.mof.gov.eg/Arabic/MOFNews/Media/Pages/release-a-19-8-2020.aspx
On 19 August 2020, the Ministry of finance granted EGP 3 billion (approx. USD 188.3 million) for Egypt's Holding Company for Drinking Water and Sanitation. The loan will help fund the company to support desalination projects in Marsa Matruh, Safaga, Al-Quseir, and Marsa Allam in Red sea governorate.
The desalination project is a part of the Arab Republic of Egypt's plan to maximize the utilization of available water resources by using the latest technological mechanisms and improving services provided to citizens. In addition, Egypt aims to attract many investment activities in the mentioned governorates.
Holding Company for Drinking Water and Sanitation was established by Republican Decree No. 135 of 2004. The company has its headquarters in Cairo, Egypt.
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the state loan granted here is discriminatory.