Egypt to spend $1.4bn over two years to develop electricity grid

30th May 2018

By: Reuters

  

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Egypt has set aside 25-billion Egyptian pounds (around $1.4-billion) to be spent over two years on developing the country's electricity network, the electricity minister said on Wednesday.

The minister, Mohamed Shaker, told reporters the government had agreed on a loan worth 60-billion Kuwaiti dinars (around $200-million) from the Kuwait-based Arab Fund for Economic and Social Development to build three new converter stations.

He gave no further details.

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Edited by Reuters

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