Cairo – Mubasher: Egypt and France have signed two grant deals with a combined value of EUR 71 million (EGP 1.2 billion) to finance energy projects in Egypt.
The first grant amounts to EUR 3 million will be directed to the energy sector support programme, according to a statement released by the Ministry of Investment and International Cooperation on Tuesday.
In addition, the second grant is valued at EUR 68 million and will be used to finance the project of pumping natural gas to households.
This project is financed by the French Development Agency (AFD), the World Bank, and Kuwait Fund for Arab Economic Development with the aim of supplying 2.4 million households with natural gas over a period of four years.
It is noteworthy that France has pumped a total of EUR 1 billion to the investment ministry in several sectors, including transportation, electricity, small- and medium-sized enterprise (SMEs), housing, urban development, agriculture, health, and environment.
