Japan’s JICA plans $360 million for two Egyptian Projects in 2015

Japan International Cooperation Agency (JICA) is targeting US$360 million finances to support Egyptian projects for 2015, Cairo office chief representative Hideki Matsunaga announced.

Speaking to Amwal Al Ghad on Sunday, Matsunaja asserted that JICA’s planned financing is dedicated for two projects in Egypt; the first to upgrade an electricity distribution network in Greater Cairo and the second to build a passenger terminal and new lanes for Borg Al-Arab Airport in Alexandria, with investment cost of US$180 million.

Solar energy will be used in the new terminal as part of plans to make Borg Al-Arab the first environmentally-friendly airport in Egypt, Matsunaja noted.

Both projects were ratified during the Japanese Prime Minister Shinzo Abe’s recent short visit to Egypt.

During Abe’s visit, Japan has pledged to continue its economic support for Egypt, most notably in transport and tourism sectors such as the new Grand Egyptian museum, Cairo Metro and upgrade of power plants.