Deputy Minister of Housing, Utilities, and Urban Communities, Sayed Ismail, discussed future cooperation opportunities between the Ministry's utilities sector and the European Investment Bank (EIB) via video conference. The meeting also reviewed the progress of ongoing projects across the country, with the participation of representatives from the Ministry's Project Management Unit (PMU).
Representatives of the EIB commended the role of the Project Management Unit (PMU) at the Ministry of Housing in managing and monitoring the implementation of drinking water and wastewater projects.
They affirmed their interest in cooperating with the water and wastewater utilities sector to execute its plans, utilizing the results-based financing mechanism, similar to other programmes that have been implemented or are currently underway. This has prompted the bank to update its financing mechanisms and adopt the results-based financing approach.
The representatives of the EIB presented a proposal to implement the targeted projects in the sector through the results-based financing mechanism. They discussed some technical, financial, and institutional matters from both sides along with the sector's vision and national strategic goals.
Representatives from the Project Management Unit (PMU) also shared lessons learned from implementing this mechanism, which has been successfully applied to projects such as the Sustainable Rural Sanitation Services Program, based on results.
The Deputy Minister concluded the meeting by emphasizing the importance of continued coordination between the bank and the PMU to agree on the projects planned for implementation in the upcoming period to achieve the objectives of the drinking water and wastewater sector.
