Egypt takes on massive development — and debt
While many economists are praising Egypt's major development projects in the fields of energy, agriculture and transportation, others are warning against the unprecedented debt the country faces due to such projects.
CAIRO — As Egypt accepts more and more development dollars from other countries, economists worry that its debt has reached a dangerous level.
Egypt's parliament agreed in principle Dec. 9 to accept a Kuwaiti loan worth 50 million Kuwaiti dinars ($164 million) to begin building the Bahr al-Baqar water drainage treatment system.
The deal was signed in July between Egypt and the Kuwait Fund for Arab Economic Development. The parliamentary commission tasked with studying the agreement recommended in its Dec. 3 report to parliament that President Abdel Fattah al-Sisi approve the agreement. A final parliamentary vote is expected before the end of the year.
The Bahr al-Baqar (Cows' Sea) drainage system aims to establish a huge wastewater desalination station to process 5 million cubic meters of wastewater per day. This volume would be enough to irrigate 250,000 acres in Sinai desert. The desalination station is expected to be the largest in the Middle East, as it will dwarf the Saudi Ras al-Khair station, which desalinates around 1 million cubic meters of water per day.
