Egypt launches $100m Nile Basin development financing mechanism

Egypt's Water Resources Minister Hani Sweilam announced a $100 million financing mechanism for Nile Basin development projects during talks with a German security policy official.

• Sweilam met with Wolf Jürgen, head of Germany's Federal Academy for Security Policy, to discuss water-resource cooperation.
• Sweilam announced Egypt has launched a financing mechanism with initial funding of $100 million for Nile Basin projects.
• Sweilam said Egypt approved mobilizing finance for a package of 36 projects in the southern Nile Basin.
• Sweilam said Egypt's development cooperation exceeds $120 million, including 365 drilled wells, solar stations, and flood forecasting centers.