Egyptian Minister of Worldwide Cooperation Rania al-Mashat defined that Egyptian-German developmental cooperation is witnessing exceptional developments, enhancing Egypt’s developmental efforts in varied fields.
Mashat added that, by joint political declaration, Germany has pledged to make 258 million euros obtainable within the type of debt swaps, grants and concessional financing.
The Ministry of Worldwide Cooperation introduced that it obtained the approval of the Home of Representatives for growth financing of 54 million euros from Germany to finance the sensible power mission throughout the nationwide platform of the “NWFE” program.
The ministry defined in a press release that the quantity features a grant of three million euros, in implementation of the joint assertion issued in November 2023.
It options the participation of 20 growth companions, worldwide financing establishments and worldwide alliances, in addition to the joint political declaration issued through the “COP27” local weather convention between Egypt, Germany and america.
The assertion famous that Germany and the US have pledged to offer assist and help to Egypt’s efforts within the inexperienced transition in the direction of renewable power.
The Ministry of Electrical energy is scheduled to profit from growth financing in implementing a mission so as to add 450 megawatts to the capability of the Abis transformer and load-reducing station within the new metropolis of Abu Qir, it added.
It can additionally assist the steadiness of the community after low-efficiency energy stations are taken out of service, and enhance the entry of renewable power produced within the Crimson Sea area till the north coast area.
In June, a debt swap settlement value 54 million euros was signed for the transmission community growth mission to combine renewable power into the electrical energy transmission community and strengthen it.
