The African Development Bank (AfDB) on 16 June approved the €83mn ($99mn) first instalment of Phase-2 of a €1.032bn ($1.23bn) 24-month financial support program for Egypt’s power sector approved in June 2020.
The ‘Electricity and Green Growth Support Program’ (EGGSP) combines €550mn from the AfDB, €431mn from the Japan International Cooperation Agency (JICA) and €150mn from the Agence Française de Développement (AFD). Each lender’s contribution is equally split between the 2020-21 and 2021-22 financial years (see table). (CONTINUED - 346 WORDS)
