African Development Bank approves Euro 225 million loan for Egypt’s Electricity and Green Growth Support Program

The African Development Bank has approved a Euro 225 million loan to finance Egypt’s Electricity and Green Growth Support Program (EGGSP). The EGGSP is a reform programme that seeks to promote a sustainable, competitive and diversified electricity sector, which supports climate change mitigation and clean energy growth. The bank’s country manager for Egypt highlighted that the newly approved programme is a continuation of the bank’s partnership with the Government of Egypt on the country’s reform agenda. The bank is now shifting its focus to meet the emerging requirements in the wake of Covid-19. The recovery phase will depend on an efficient and sustainable energy sector. In addition to the partnership with the national authorities, the bank is collaborating with the French Development Agency and the Japan International Cooperation Agency on the programmes.

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