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Wednesday, 02 March 2016 11:39

Egypt to receive $305M Japanese loan for electricity projects

Egypt’s Minister of International Cooperation, Sahar Nasr Egypt’s Minister of International Cooperation, Sahar Nasr Image by American University in Cairo

Egypt, Cairo: Egypt’s Minister of International Cooperation, Sahar Nasr, has announced three Japanese loans totalling $460 million that will finance Egyptian national projects.

Among the loans, $210 million will be allocated to the increase in the efficiency of electricity distribution companies, reports Global Construction Review.

Further $95 million will go toward the construction of a power plant in Hurghada.

The loans are to be finalised during Egyptian President Abdel Fattah Al-Sisi’s visit to Japan this week.

Source: GCR
Image: American University in Cairo

Additional Info

  • Continent: Africa
  • Category: Business