Depollution of the Mediterranean: four priority investment projects closer to implementation

Following the completion last year of feasibility studies for four priority pollution reduction projects in the southern Mediterranean, two of those projects, at Lake Bizerte in Tunisia and Kafr El Sheikh in Egypt, have been approved for financing by the European Investment Bank (EIB) and are in the process of securing funding from a co-financier.
 The studies were supported through the investment component of the Horizon 2020 initiative and the 'Mediterranean Hot Spots Investment Programme – Project Preparation and Implementation Facility' (MeHSIP-PPIF).
 Another project in Lebanon, at Al Ghadir, is attracting strong interest from financing institutions and should be able to move forward soon. For the fourth project in Jordan, the economic situation in the country has put it on hold, but the feasibility study prepared by MeHSIP-PPIF has provided a solid basis once discussions between International Financial Institutions/donors and the Government resume.
 Three of the investment projects have also secured grant support from the Neighbourhood Investment Facility (NIF). 
• Lake Bizerte, Tunisia [investment value: €80m]: In December 2013 the project was approved by the EIB Board and the finance contract was signed with the Tunisian Government. The European Bank for Reconstruction and Development (EBRD) has shown keenness to co-finance based. The project has also been labelled by the Union for the Mediterranean. 
• Lake Burullus/Kafr El Sheikh, Egypt [investment value: €163.5m]: The project was approved by the EIB Board in 2013. Currently the EBRD is undergoing its due diligence and are expected to present the project to their board in the first quarter of 2014. The project has been given a preliminary approval for a substantial NIF grant (€20m). 
• Al Ghadir, Lebanon [investment value: €100-150m]: Agreement was reached between the EIB and the Government that a full appraisal mission should take place in 2014 and a clear interest by a potential co-sponsor has been expressed to co-finance the project.
 • Al Ekaider, Jordan [investment value: €39m]: During 2013, MeHSIP-PPIF assisted the EIB in following the process initiated by the Jordanian Government for formalising a request for financing. To date, the Government has not yet taken a decision on committing for a financing plan for this project due to the current economic situation in the country. 
The overall objective of MeHSIP-PPIF is to identify and prepare high priority, sustainable investment projects which will make a significant contribution to the de-pollution of the Mediterranean.
 The Horizon 2020 initiative aims to improve the quality of life of more than 420 million citizens living in the 25 countries bordering the Mediterranean Sea.

It is an umbrella programme drawing together all the policies, strategies and action plans for enhancing environmental protection. 

(EU Neighbourhood Info Centre)
 Read more 

Press release EU Neighbourhood Info Centre feature – 

Protecting Bizerte lagoon Photo gallery 

MeHSIP-PPIF website 

Horizon 2020 - website