Egypt and the EU Agree Up to EUR 690 Million to Modernise National Electricity Grid and Expand Clean Energy

Egypt and the EU Agree Up to EUR 690 Million to Modernise National Electricity Grid and Expand Clean Energy

Egypt and the European Union (EU) have strengthened their strategic partnership in renewable energy with a financing package of up to EUR 690 million (EGP 39 billion) aimed at upgrading and expanding Egypt’s electricity transmission network on Monday, 15 June. The funding combines a EUR 600 million (EGP 34 billion) loan from the European Investment Bank’s development arm, EIB Global, with grants of up to EUR 90 million (EGP 5 billion) provided b…

Egypt, EU strengthen renewable energy partnership with €690m grid upgrade package - Dailynewsegypt

The European Union and Egypt have taken a major step towards deepening their strategic partnership in renewable energy through a financing package worth up to €690m aimed at modernising and expanding Egypt’s electricity transmission network. The package combines a €600m loan from the European Investment Bank’s development arm, EIB Global, with up to €90m in grants from the European Commission. The initiative is designed to support Egypt’s ambiti…

EU backs Egypt’s grid expansion with up to $800m in financing

The European Union and Egypt have announced a financing package worth up to €690m to upgrade and expand the Egyptian electricity grid.