Islamic bank support for Egypt’s energy sector stands at $2.02b in 10yrs

The Islamic Development Bank (IsDB) supported multiple energy projects in Egypt, resulting in a 14 per cent rise in energy production from 2012 to 2022, which accounts for 94 per cent of the country’s total energy capacity.

The IsDB’s contributions include nearly 4,000 megawatts of added capacity—about 14 per cent of the overall increase—and the approval of 19 projects worth $2.02 billion. Among these, six projects focus on solar power.

The IsDB’s efforts align with several sustainable development goals (SDGs) for Egypt, including affordable and clean energy, decent work and economic growth, and advancements in industry, innovation, and infrastructure.

Committed to promoting sustainable energy and technological innovation, the IsDB continues to pursue cost-effective solutions through strategic partnerships.

Attribution: Saudi Press Agency (SPA)

Subediting: M. S. Salama