Egypt gets $243 mln electricity fund from Japan - minister

Monday 07-09-2015 11:11 AM
Egypt gets $243 mln electricity fund from Japan - minister

The South Cairo Electricity Distribution Company and power station is pictured at the Imbaba area in Cairo, September 26, 2014. REUTERS/Amr Abdallah Dalsh


CAIRO, Sept 7 (Aswat Masriya) - Three Egyptian electricity companies have secured $243 million fund from Japan, International Cooperation Minister Najla Ahwani said on Monday in an official statement. 

The fund will aim at enhancing the capacity of electricity distribution in Egypt, which is desperately short of power. Cairo targets 7.2GW of operating wind capacity by 2020.

The Japanese government will also finance a new extension to Abu El-Reesh children's cancer hospital in Cairo with a grant worth $243 million, Ahwani added. 

The minister's statements came on the sideline of a meeting with Japan's Ambassador to Egypt, which is in preparation for President Abdel Fattah al-Sisi's visit to Japan next November.

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