AfDB approves US$99m loan for second phase of Electricity and Green Growth Support Program

EGYPT – The African Development Bank (AfDB) through its Board of Directors, have approved an €83 million (US$99.07m) loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program. The funding is part of the Bank’s budget support to the Egyptian government to strengthen its electricity infrastructure, which is expected to bolster the private sector and accelerate recovery from the Covid-19 crisis. The program seeks to enhance the power sector’s financial sustainability, governance and operations. It will also advance the provision of clean, reliable energy to drive…

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