AfDB may contribute $180 million to a Solar Project in Egypt

The African Development Bank Group is studying US$180 million in finances in favour of a solar energy project in Egypt, the bank’s Resident Representative in the North African country Leila Mokaddem said.

The project will be carried out in cooperation with one of the private firms in Egypt.

In an interview with Amwal Al Ghad on Monday, Mokaddem said AfDB’s targeted finance for the Egyptian project represents 30% of its total cost, which amounts to US$600 million.

This project shall be part of AfDB’s strategy to provide financing for infrastructure and energy projects in Egypt within 2015, Mokaddem noted.