ICEC

Egypt’s SFD studies $1.1bn commitments to solar sector

Egypt’s Social Fund for Development (SFD) is studying a 10 billion Egyptian pounds ($1.1 billion) commitment to a solar energy project, a senior source in the fund told Amwal Al Ghad Sunday.

The project locates in one of Egypt’s border governorates, the source added.

The fund also considers contribution to the capitals of three other projects, one of them in favour of telecommunications sector.

These under-study finances are part of SFD’s new investment policy which is based on pumping liquidity into capitals of vital projects in Egypt, the sources said.

The SFD was established by Egyptian Presidential Decree 40/1991 as a socio-economic safety net to combat unemployment, alleviate poverty, improve living conditions and help attain comprehensive socio-economic development.

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