Fast Market Research recommends "Egypt Water Report Q3 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 08/06/2013 -- Egypt remained unsettled over Q3 2013 as the economic outlook weakened and international debate continued to threaten Egypt's Nile resources. Facing these challenges the government has focused attention on the water sector and created a number of fresh opportunities.
Funding came primarily through foreign investment, and the German government agreed to a US$225mn loan for infrastructure projects; the Assiut Barrage irrigation project will receive US$65.5mn. The OFID also announced that it will fund two irrigation projects worth US$65mn and French Development Agency (AFD) granted a US$75mn loan agreement for drinking water and sanitation projects in southern Egypt. The Egyptian government announced a further US$35mn grant for agricultural clearing along key water sources. BMI is confident that the short-term future of the water market remains secure and lucrative - yet the long-term future of the nation remains precarious, and increasingly dependent on fickle foreign investment and resources.
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Key themes to highlight for Egypt's water sector:
- The Egyptian government has created further inroads to investment in the water market through PPP public- private partnership. In Q2 2013 the PPP Central Unit announced it aims to launch eight to 10 privately financed water projects this year, with larger ones to follow in 2014. When coupled with increased foreign investment this creates an optimistic future for private suppliers in the market.
- The government faces a looming threat in the Ethiopian Renaissance Dam project, and if completed, Egypt will suffer serious cuts in water resources (18 billion cubic meters annually). Regardless of the outcome of this specific project it is clear that Egypt faces future battles over these resources. The economic development and increased resource needs of many of the African nations along the Nile means that Egypt will need to plan for a potential future where their Nile share is significantly reduced. The government recognizes the threat of this future and has a stated focus on improving water conservation and efficiency projects in the water market.
- The political and economic situation remains precarious within the nation. This quarter has seen a cut in Egypt's credit rating to "CCC" and a reduction in economic forecasts by nearly 1.5% to just 2% annual GDP growth. The political unrest continues to strain the nation in Q3 2013 as the public is suffers severe shortages in fuel, civil unrest and agricultural challenges. In order to retain the balance, the government will have to ensure the continuation of subsidies for key goods and resources including food, fuel, and water, and its ability to do so in the current economic situation will hinge on foreign investment and aid.
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