By Dawan Africa - Reporter
The European Investment Bank (EIB) has signed an agreement on Friday to provide £79 million in financing for the Djibouti desalination plant. The objective of this investment is to improve access to clean drinking water and enhance water treatment facilities in Djibouti.
The funding will be utilized to double the capacity of the Darolah Desalination plant, as well as expand three wastewater treatment plants located in Darolah, Balbala, and Douda.
The agreement was signed by Djibouti's Minister of Economy and Finance, Ilyas Mousa Dawaleh, during his work visit to Luxembourg, and Mr. Thomas Ostros, the Vice President of the European Investment Bank.
Minister Dawaleh expressed his appreciation for the project, highlighting its potential to increase production and enhancing the water supply for thousands of people.
"Together with Mr. Thomas Ostros, the Vice President of European Investment Bank signed the financing agreement for the extension of the Djibouti desalination plant which aimed at doubling the current production and Solar Energy Supply," said Mr. Dawaleh, Djibouti's Minister of Economy and Finance.
Mr. Thomas Ostros, Vice President of the European Investment Bank, praised the investment as a transformational initiative in Africa's water sector. He emphasized the EIB's commitment to addressing water challenges and promoting climate resilience in vulnerable countries.
"The European Investment Bank is pleased to extend its support for transformational water Investment in Africa and scale up water desalination and water treatment in Djibouti. This visionary new Investment demonstrate EIB's commitment to addressing water challenges and promoting climate resilience in vulnerable countries through best practice technology and high-impact infrastructure Investment, as part of the Global Gateway initiative," said Mr. Thomas Őstros, the Vice President of the European Investment Bank.
He added: " By leveraging renewable energy sources, this will significantly contribute to achieving sustainable and inclusive development in Djibouti."
The collaboration between Djibouti and the European Investment Bank demonstrates a shared commitment to improving water security and driving sustainable development. The financial support and technical expertise provided by the EIB are expected to unlock numerous benefits for the people of Djibouti.
