JBIC funds a series of electricity projects in Egypt
The Japanese Bank for International Cooperation (JBIC) has agreed to finance a number of Egyptian electricity projects, at a minimum level of $80 million per project, reported Al-Alam Al-Yaum.
JBIC funds will be directed towards establishing a 500 kilovolt line, connecting the Sidi Kreir electricity stations to the unified power grid, with the aim of enhancing the grid’s capacity and increasing power needed for supply of electricity to development projects.
JBIC granted Egyptian government an official development assistance (ODA) loan, amounting to 5,194 million yen ($40,271), for the Social Fund for Development (SFD) Project this past February. The loan provided funds for financing micro and small enterprises for business start-ups and expansion in the regions of Upper Egypt and the Suez Canal and Sinai Peninsula. — (menareport.com)
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