Egypt has secured a US$253 million loan from the African Development Bank to finance Egypt’s Electricity and Green Growth Support Programme. The funding will help meet the government of Egypt’s financing requirements in the light of the COVID-19 pandemic. The AfDB funds will also help Egypt support a sound electricity infrastructure base, a key enabler for the private sector and for the country’s competitiveness. Egypt’s EGGSP reform programme seeks to promote a sustainable, competitive and diversified electricity sector that ensures secure energy supply and supports climate change mitigation and green growth..
SOURCE: AFRICA INC