Shaker: EIB financial support to power projects reflects trust in Egypt's electricity sector

CAIRO - 28 March 2022: Minister of Electricity and Renewable Energy Mohamed Shaker has hailed ties between Egypt and the European Investment Bank (EIB).

 

In a statement issued by his ministry Monday after meeting with Flavia Palanza, the finance director at the EIB, the minister said the participation of the bank in financing numerous national electricity projects during the past decades reflects its trust in the Egyptian electricity sector and its management methods.

 

The minister said he discussed with Palanza means to boost joint cooperation in light of the electricity ministry's keenness on benefitting from its expertise in the fields of energy, gas emission reduction and green hydrogen production as well as power linkage projects especially the one with Cyprus and Greece.

 

He expressed hope for fulfilling the Africa Clean Energy Corridor (ACEC) which is a regional initiative to accelerate the development of renewable energy potential and cross-border trade of renewable power within the Eastern Africa Power Pool (EAPP) and Southern African Power Pool (SAPP).