Egypt eyes $150mln in financing from EBRD before end-2023

Peter Andrews

The potential financing will be directed to the electricity sector to proceed with the country’s plan for replacing 5-gigawatt (GW) of power

Staff Writer, Arab Finance

October 12, 2023

PHOTO

Egypt is seeking to secure $150 million in financing from the European Bank for Reconstruction and Development (EBRD) before the end of the current year, two government sources told Asharq Business on October 11th.

The country seeks to obtain this loan as part of its Nexus of Water, Food and Energy (NWFE) program.

The potential financing will be directed to the electricity sector to proceed with the country’s plan for replacing 5-gigawatt (GW) of power with renewable energy to control carbon emissions, one source noted.

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