ICEC

Egypt Cabinet approves $200 million loan from ERBD

Egypt Cabinet approves a loan agreement of US$200 million the European Bank for Reconstruction and Development (EBRD) provided to Egypt to finance the modernisation of selected gas infrastructure facilities, which shall improve energy efficiency and reduce impacts on the environment.

Focusing on improving the gas pipeline and transmission network of Egypt, the EBRD said that the loan will be directed to installing waste heat recovery, turbo-expanders, gas metering data systems infrastructure and liquefied petroleum gas (LPG) separation plant as well as carbon dioxide removal from wet gas systems.

Around $125 million will be directed to waste heat recovery technologies, however, the rest of the loan will be allocated to other projects.

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