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The European Bank for Reconstruction and Development (EBRD) is extending a senior loan of up to EGP 350 million (€6.4 million) to Ridgewood for Water Desalination (RWD), a Hassan Allam Utilities company, to support Egypt’s water security goals through sustainable infrastructure development.
The financing to RWD will fund the construction of new small-scale desalination plants and upgrade of existing facilities along Egypt’s Red Sea and Mediterranean coasts.
These new facilities will help RWD to deliver a reliable water supply to key sectors of Egypt’s economy, such as tourism and industry, which currently lack access to municipal water owing to the country’s regulatory regime. The investment will also improve operational and energy efficiency, while supporting the company’s growth and diversification.
Egypt faces significant water scarcity, namely an annual deficit of around 7 billion cubic metres, with the Nile River accounting for 97 per cent of its freshwater resources. Population growth, climate change and regional pressures have intensified the need for a sustainable water supply.
Expanding desalination capacity, through public-private partnerships and private investment, will help to meet this need and enable the use of renewable energy, ensuring resilience and sustainability.
The upgraded central water stations and new standalone plants are expected to add a desalination capacity of approximately 10,000 to 15,000 cubic metres a day.
Ridgewood for Water Desalination is an Egypt-based company, incorporated in 1999, that provides desalinated water to private-sector clients in the coastal areas of Egypt.
Egypt is a founding member of the EBRD. Since the start of the Bank’s operations in the country in 2012, the EBRD has invested almost €13.9 billion in 209 projects across the economy.