Minister of International Cooperation Rania Al-Mashat and the Agence Française de Développement (AFD) have agreed on a grant worth EUR 151 mn (EGP 2.75 bn) for enhancing the Egyptian energy sector's financial sustainability, governance, and operational efficiency.

Minister of International Cooperation Rania Al-Mashat has signed a EUR 50 mn (EGP 912.6 mn) agreement with Agence Française de Développement (AFD) to finance the upgrading of Cairo Metro Line I.

The African Development Bank Group (AfDB) will grant EUR 225 mn (EGP 4.1 bn) in financing to Egypt’s Electricity and Green Growth Support Program (EGGSP), in a bid to provide necessary funds to combat the pandemic and "support a sound electricity infrastructure base."

The European Union (EU) and three international development banks launch a EUR -140- mn- program in Egypt to promote green investments in the country, support projects that boost energy efficiency and develop renewable energy sources, Invest-Gate reports.