The European Investment Bank has approved a loan package worth euro560 million (USD784.7 million) to improve electricity generation and transmission in Egypt. Together with the USD460 million approved in July for the Egyptian Refining Co., EIB lending to Egypt this year has reached more than USD1.2 billion.
The European Union, meanwhile, has drawn euro20 million from the Neighborhood Investment Facility to support the Egyptian Power Transmission Project, one of the initiatives that will benefit from the EIB loan package.
