TechInAfrica – The second phase of Egypt’s Electricity and Green Growth Support Program has received funding after the Board of Directors of the African Development Bank (AfDB) approved the EUR 83 million loans ($99.07m).
It will be used to assist Egypt’s government effort in enriching the private sector.
The objectives of the program quoted from the AfDB’s official website reads:
- i) rationalization of the electricity tariff;
- ii) enhanced financial sustainability of the electricity sector;
iii) improved corporate governance and competitiveness of the key electricity sector institutions;
- iv) enhanced security of energy supply through the promotion of renewable energy and energy efficiency for fostering climate change mitigation and green growth;
and v) stronger engagement of the private sector for better service delivery.