Cairo – Mubasher: The Multilateral Investment Guarantee Agency (MIGA) will grant Egypt up to $102.6 million credit facility to bolster the construction, operation, and maintenance of six solar power plants in the country.
This funding will be used to cover IB Vogt’s investments of a total $5 million over 15 years, the MIGA highlighted.
The six solar plants are set to be built with investments worth $385.8 million and are expected to provide the need of 349,910 families, according to the agency.
The MIGA will provide the Industrial and Commercial Bank of China Ltd (ICBC) with $97.6 million credit facility over 20 years, on which Acwa Power will manage the construction of three plants.
