The first agreement, valued at €53 million, comprises of concessional development financing as well as a grant for the smart grid development project under the Ministry of Electricity and Renewable Energy
The agreement aims to provide financial and technical support to micro-projects that have a positive impact on the climate in the areas of energy efficiency and renewable energy.
The debt swap will assist the government’s efforts in meeting its goals of generating 42% of Egypt’s electricity from renewable sources by 2030 by financing investments and projects accelerating the transition
