Global Arab Network | Green energy: World Bank offers $ 700 million for electricity and solar projects in Egypt

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Green energy: World Bank offers $ 700 million for electricity and solar projects in Egypt

Global Arab Network - Click HERE for more: Green Energy - Solar, Wind, Wave, Tidal and Hydropower

Monday, 30 August 2010 00:16

Green energy: World Bank offers $ 700 million for electricity and solar projects in Egypt

Egypt -Coordination is underway with the World Bank to finance power projects worth $700 million to help control the recent power outage , said Minister of International Cooperation Fayza Abul-Naga on Saturday 28/8/2010.

Preparations are going on for the Northern Giza power station at a capacity of 1,500 megawatt and cost of $600 million and also for the Kom Ombo solar-operated power plant at a capacity of 100 megawatt and finance of $100 million.

“The World Bank is one of Egypt’s most important development partners as it has contributed to financing several development projects that helped provide job opportunities and upgrade services offered for citizens,” said Abul-Naga.

She pointed out that Egypt climbed up on the World Bank ranking list to become a safely-indebted country thanks to the government’s rational borrowing policy.

Abul-Naga said there are many projects in the various sectors.

“These projects include infrastructure for sanitary sewage in the governorates of al-Menoufiya, al-Sharqiya, Assiut and Sohag at a cost of $200 million and others for the development of field irrigation in the New Valley and the Delta at a cost of $100 million,” she said.
(SIS)

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