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Doaa Moneim – Ahram Online
Egypt’s House of Representatives approved two agreements with the European Bank for Reconstruction and Development (EBRD) and the French Development Agency (FDA). The agreements, worth €336 Million, “aim to boost Egypt’s electricity network and finance development policies to achieve the ‘2030 National Agenda’ and the 17 Sustainable Development Goals (SDGs)”, Minister of International Cooperation Rania al-Mashat announced.
“The agreements help meet multiple SDGs simultaneously, including Goal 7 to ensure access to affordable, reliable, sustainable and modern energy for all. Goal 9 to promote industry and innovation, Goal 12 to promote responsible production and consumption, and Goal 17 to form partnerships to achieve the goals”, according to Mashat.
She added that, “the agreement with the EBRD will provide €182.9 Million to strengthen Egypt’s electricity network through the construction and improvement of five substations in several governorates including South Sinai, Port Said, Assiut and Minya. It also provides a grant of €150,000 for the Egyptian Electricity Transmission to support internal capacity building”.
The agreement with the FDA provides financing of €150 Million, which is will be used in applying reforms on electricity. “FDA provided a grant of €1 Million for three years to push the 2030 national sustainability agenda forward, which was adopted by the government in October 2016”, according to the minister.
The current cooperation portfolio between Egypt and France amounts to around €1 Billion in transport, electricity, small and medium enterprises (SMEs), housing, utilities, urban development, agriculture, health, environment and budget support sectors.
