Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) and the French company Proparco granted Egypt a $116 million loan to finance the establishment and operation of two 50-megawatt solar photovoltaic power plants.
The EBRD stated on its official website that this project will cost $500 million and will be implemented by two Egyptian subsidiaries of the French company EREN Renewable Energy and Access Power.
Last week, Egypt’s minister of investment and international cooperation Sahar Nasr was in talks with EBRD top officials to reconstruct and develop a consultative council for foreign investment in Egypt.
