Cairo – Mubasher: Egypt’s Minister of International Cooperation Sahar Nasr signed on Monday a financing agreement worth $200 million with the European Bank for Reconstruction and Development (EBRD).
The bank is providing the loan to the Egyptian Electricity Holding Company (EEHC) to be on-lent to West Delta Electricity Production Company (WDEPC) for the construction of a new 1.8 GW combined cycle gas-fired power plant in Damanhour, north west of Cairo.
This loan will contribute to funding the $ 1.3 billion total project cost, which is also being supported by the European Investment Bank, the Arab Fund for Economic & Social Development and the African Development Bank.
