
French Ambassador here Andrea Parant and International Cooperation Minister Sahar Nasr witnessed the inking ceremony of an agreement between the Agence Française de Développement (AFD) and the Electricity and Renewable Energy Ministry where the AFD will provide Egypt a loan of 50 million euros.
In a statement issued on Wednesday, the French Embassy here said that the AFD backs the efforts exerted by the Egyptian authorities to develop electricity grids and had thus funded this project that aims at upgrading control mechanisms of electricity networks.
This venture includes building a control center in the medium-voltage grids for the Delta region and funding the technical support for the Egyptian Electricity Transmission Company (EETC) to develop control systems in Alexandria, Cairo and the canal's cities.
The project constitutes a priority for the AFD to improve the livelihood of citizens and support sustainable growth for the productive sector, the statement read, adding that the venture will decrease power outages.
GMT 15:13 2018 Saturday ,20 January
US 'erred' in supporting WTO membership for China, RussiaGMT 17:22 2018 Thursday ,18 January
US industrial output in 2017 posts biggest gain since 2010GMT 17:12 2018 Thursday ,18 January
No more bonuses for Carillion bosses after UK collapseGMT 17:20 2018 Wednesday ,17 January
EU to remove Panama, South Korea from tax haven blacklistGMT 17:16 2018 Wednesday ,17 January
Citigroup reports steep Q4 losses tied to US tax reformGMT 17:11 2018 Wednesday ,17 January
Pressure rises on British govt over Carillion collapseGMT 17:52 2018 Monday ,15 January
Iran jetliner deal could take longer to complete, Airbus saysGMT 17:44 2018 Monday ,15 January
EU to remove Panama, Korea, UAE, 5 others from tax haven blacklist
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor