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25-04-21
Egypt inks memorandum of understanding with European Bank
(MENAFN)Egypt inked a memorandum of understanding (MoU) with the European Bank for Reconstruction and Development (EBRD) to increase development of sustainable cities.
The MoU plans to charge and make the environmental challenges as a priority, and improve a strategy to address those issues via political intervention and sustainable investment, stated Sayed Ismail, deputy minister of housing.
The ministry aimed to invest in sustainable infrastructure projects to address water issues and production of reusable energy in the new cities, according to deputy minister.
The 6th of October City was given preference over other new cities affiliated with the New Urban Communities Authority, Ismail further declared.
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