Japan Pledges $240 Million for Egypt’s Clean Energy Sector

Published February 17th, 2021 - 09:11 GMT
Japan Pledges $240 Million for Egypt’s Clean Energy Sector
Egypt’s development finance portfolio reached nearly $25 billion (EGP 391 million) until early February. (Shutterstock)
Highlights
The development financing is represented by the Japanese Embassy and the Japan International Cooperation Agency in Cairo.
Japan is securing $240 million (EGP 3.75 billion) for Egypt’s energy sector and budget support, upon an agreement signed with the international cooperation and finance ministries, according to a February 15thstatement.

The development financing is represented by the Japanese Embassy and the Japan International Cooperation Agency in Cairo.

The ongoing development finance portfolio between Egypt and Japan currently totals $2.71 billion (EGP 42.39 billion) in 14 projects, Minister of International Cooperation Rania al Mashat unveiled. The funds are distributed across many vital sectors like electricity, education, scientific research, and tourism.

Al Mashat added the ongoing Japanese grant portfolio stands at $54.5 million (EGP 852.58 million) in the health and education sectors.

Egypt’s development finance portfolio reached nearly $25 billion (EGP 391 million) until early February.


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