Finance ministry passes $378mn supporting loan to support power sector

Minister of Finance Hani Qadri Demian approved granting a supporting loan worth 8 billion pounds (US$378 million) to the Egyptian Electricity Holding Company (EEHC).

Mohamed Abdel-Fattah -head of General Budget Department- said Friday that the supporting loan is dedicated to support power sector to execute its strategic goals.

The supporting loan is also allocated to support the sector to provide electricity so as to achieve the economic and social growth rates that Egypt targets, Abdel-Fattah stated.

The official further stated that finance ministry has also granted 33.9 million pounds to Canal Co. For Electricity Distribution (CCED).