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AfDB supports energy projects in Egypt
- Egypt: Thursday, November 15 - 2007 at 15:08
The African Development Bank (AfDB) Group in Tunis has approved loans amounting to $325m to finance energy projects in Egypt. This project aims at increasing the generation capacity of the Unified Power System (UPS) by about 4% in 2012. When completed, it will contribute toward making sufficient and reliable power available to various consumers including households, agriculture, business and industries. The project is estimated to cost $1,322.73m. The AfDB loan will cover 24.5% of the total cost. Other financiers are the Islamic Development Bank, the Arab Fund, the Kuwait Fund, and the Egyptian Electricity Holding Company.
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Amena Bakr, Senior ReporterThursday, November 15 - 2007 at 15:08 UAE local time (GMT+4)
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