Algeria
Egypt
Israel
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Syria *
TunisiaEBRD supports Egypt’s water sector with NUCA
The European Bank for Reconstruction and Development (EBRD) is supporting the development of Egypt’s urban infrastructure sector by investing EGP 927 million (€ 27 million) in a securitised local currency bond issued by El Taamir for Securitization Company (El Taamir), a special purpose vehicle set up by the New Urban Communities Authority (NUCA).
This investment is part of the EGP 20 billion Issuance of September 2022, which is the largest securitised issuance in Egypt to date and benefits from a guarantee by the country’s Ministry of Finance. It was listed on the Egyptian stock exchange in November 2022.
NUCA has developed more than 40 cities with solid support from the private sector, including developers and contractors. NUCA will use the proceeds of the bond issuance for capital and operating expenditures.
The Bank’s investment will support a range of municipal infrastructure projects covering drinking water, sanitation, treated water storage and pumping stations, street lighting and power transmission.
Countries covered:
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Egypt
