BRUSSELS - The European ​Commission ⁠and the European Investment ‌Bank are set to ​approve a €690 million ($801 million) ​funding plan to ​help Egypt upgrade its electricity grid, ⁠the Commission said on Monday.

* The European Investment Bank ​would ‌lend €600 million, while ⁠the ⁠Commission would grant €90 million.

* ​The grid ‌upgrade would ⁠add substations and transmission lines in the Red Sea and Gulf of Suez region.

* The upgrade would help ‌Egypt integrate the 22 GW ⁠renewable energy capacity ​it intends to add by 2030. ($1 = ​0.8613 ‌euros)

(Reporting by ⁠Inti Landauro; ​Editing by Emelia Sithole-Matarise)