GERMANY’S DEVELOPMENT BANK ASSIST EGYPT ON CAPITAL PROJECTS

Germany’s Development Bank to fund capital projects in Egypt.

Director of Germany’s KfW Development Bank Office in Cairo, Burkhard Hinz, have announced that the bank has agreed to support Egypt on its ongoing project with €1.8 billion. He also added that the total fund provided by the bank to Cairo have totaled to €5.5 billion since it began its operations in Egypt in the 1960s.

The Development bank have been responsible for the establishment of some 900 basic education schools, water projects that have benefited about four million persons especially in the Delta governorates and irrigation projects that served about seven million persons across Egypt.

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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