(AFP Photo)
By Abdel Razek Al-Shuwekhi
The Ministry of International Cooperation is approaching the completion of its study for the development of the Ismailia and Nubaria canals, according to a ministry official.
The official also stated that the African Development Bank would finance the study at a value of €1.9m.
The official said the work on the two canals will provide significant benefits to communities and the agricultural population, who use the waterways for access to drinking water.
The Ismailia canal runs from the Nile near Shubra in northern Cairo up to the Suez Canal at Ismailia. It then branches into two smaller canals, one going to the Suez and the other to Port Said.
The canal is 129km long from its mouth to Nafisha near Ismailia, and is another 89km from there to the Suez.
The Suez Canal Company dug part of the canal, which irrigates the Qaliubiya and Eastern provinces, with Ismail Pasha completing the rest, according to an agreement between the two parties.
The official added that the coming period will witness several agreements with the African Development Bank to finance infrastructure projects, especially in the energy and roads sectors.
Egypt has been among the largest contributing partners to the African Development Bank since its inception in the 1960s.
The official added that 80% of the African Development Bank’s loans to Egypt go towards the energy sector.
