Egypt to receive $305M Japanese loan for electricity projects

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