02 October 2020 12:45 AM

Cabinet approves funding agreement between Egypt, AfDB on supporting electricity program

Wednesday، 09 September 2020 - 02:36 PM

The Cabinet approved a draft resolution on a funding agreement between Egypt and African Development Bank (AfDB) on a program supporting electricity and green growth with a cost of 225 million euros.

The program aims at boosting electricity sector in a competitive, sustainable and diverse way to guarantee security and energy supply in addition to supporting easing the impact of climate change and promoting the green growth.
The program is composed of two elements on financial sustainability and governance of electricity and boosting green energy and energy efficiency.
The program will result in rationalizing electricity tariff, boosting financial sustainability of the electricity sector and improving the governance of companies and institutions of electricity sector.

MENA


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