Egypt Independent

Housing Ministry completes negotiations for $1 bn loan from the World Bank



Housing Minister Mostafa Madbouly said the ministry has completed negotiations with the World Bank for a US$1 billion loan, including $550 million for the first phase of a sewage system project for 155 villages in Sharqiya, Beheira and Daqahliya to prevent the contamination of the Nile water.
 
The project is to start at the beginning of next fiscal year.
 
Ministry First Under Secretary Randa al-Minshawy said the negotiations took as little as five months.
 
 
Edited translation from Al-Masry Al-Youm