2010 EIB Lending for Egypt Tops USD1.2B

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. 

About the author

  • Eliza villarino 400x400

    Eliza Villarino

    Eliza Villarino currently manages one of today’s leading publications on humanitarian aid, global health and international development, the weekly GDB. At Devex, she has helped grow a global newsroom, with talented journalists from major development hubs such as Washington, D.C, London and Brussels. She regularly writes about innovations in global development.