The Banking Executive Magazine - April 2021

Egypt Egypt, EBRD SIGN DEAL TO BOOST SUSTAINABLE CITIES Egypt has signed a memorandum of understanding (MoU) with the Euro- pean Bank for Reconstruction and Development (EBRD) to boost devel- opment of sustainable cities. Sayed Ismail, deputy minister of housing, said that said the MoU aims to assess and prioritize environmen- tal challenges, and develop a strategy to address those issues through polit- ical intervention and sustainable in- vestment. The deputy minister said his ministry hoped to invest in sustainable infra- structure projects to address water is- sues and production of reusable energy in the new cities. Ismail said the 6th of October City was given preference over other new cities affiliated with the New Urban Communities Authority. Projects financed by EBRD include a sanitation water services scheme in Kafr El-Sheikh, which serves 470,000 people in 62 villages. the BANKING EXECUTIVE 44 ISSUE 148 APRIL 2021