IFC provides $20mn financing package to MENA-focused water provider Metito

IFC provides $20mn financing package to MENA-focused water provider Metito
By bne IntelliNews March 12, 2021

IFC, The World Bank’s private sector arm, is providing a $20mn financing package to Metito, a leading global provider of water and alternative energy management solutions, to support improved access to clean water and wastewater services in several countries throughout the Middle East and Africa.

The financing will provide Metito with additional liquidity and working capital to help it extend the accessibility of drinking water, improve wastewater treatment infrastructure, reduce waste costs and decrease health risks in the key water-stressed markets where it operates.

Metito's core markets are in the Middle East and North Africa, the world's most water-scarce region. The company is also expanding in sub-Saharan Africa, where it already operates the Kigali bulk water supply project, providing clean water to Rwanda's fast-growing capital.

Related Articles

UAE’s Masdar, Uzbekhydroenergo partner up to evaluate potential of national hydro power storage

United Arab Emirates renewable energy company Masdar has partnered with Uzbekhydroenergo to evaluate the potential of national hydroelectric power storage projects. Masdar and Uzbekhydroenergo, a ... more

Morocco allocates 10,000 sq km to green hydrogen projects

The Moroccan government plans to allocate 10,000 square kilometres to green hydrogen projects as it continues its steps towards energy transition, according to a statement from the cabinet on March ... more

Egypt's president approves $5.8bn social protection package

Egyptian President Abdul Fattah El Sisi has announced an urgent EGP 180bn ($5.82bn) social stimulus package to be implemented starting in March.  The announcement on Wednesday ... more

Dismiss