AfDB studies $400-million Finance for Wind PPP Project in Egypt

The African Development Bank Group is considering a contribution of around US$400 million to a wind energy public-private partnership project in Egypt, the bank’s Resident Representative in Egypt Leila Mokaddem said Monday.

She said the Egyptian project would be at total cost of around US$1.5 billion.

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

In March, AfDB reached an agreement with the Egyptian government over a US$2.5-3 billion in aid, marking a three-year strategy of cooperation with Egypt for 2015-2019.

Since 1974, AfDB has financed 100 operations in Egypt worth US$6.9 billion.