• HSBC

World Bank loan for Egypt power plant

  • Egypt: Thursday, October 15 - 2009 at 10:50

Egypt's Minister of Electricity Hassan Younes has said the country will receive an EGP3.4bn ($620m) loan from the World Bank to fund its North Giza power plant project, Reuters has reported. Egypt aims to more than triple its installed power capacity by 2027 by adding 58,000 MW at a cost of about $100bn to $120bn, he said. The plant is set to come onstream during the first quarter of 2013.

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