Cairo: The Egyptian government has approved a loan from the Arab Fund for Economic and Social Development (AFESD) to enhance the electric grid, according to the minister of electricity Mohamed Shaker.
The KWD 60 million ($198 million) loan has a grace period of four years, and will be repaid over a period of 26 years.
The minister noted that plans to improve the national grid include investments of up to EGP 25 billion over the next two years.
Source: Mubasher
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