The Board of Directors of the African Development Bank have approved an €83 million loan to finance the second phase of Egypt’s Electricity and Green Growth Support Program. The funding is part of the bank’s budget support to the Egyptian government to strengthen its electricity infrastructure, which is expected to boost the private sector and accelerate recovery from the coronavirus pandemic. The program aims to strengthen the power sector’s financial sustainability, governance and operations. It will also push for the provision of clean, reliable energy to drive green growth. Egypt’s successful reforms in the sector have led to greater private investment in rene
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