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The World Bank (WB) is contributing to several electricity projects required for the five-year plan 2012/2017 in Egypt. This came after a meeting between the WB mission and the Chairman of the Electricity Holding Company.The projects’ investments are estimated at about $500 million to add 2050 mw to the capacity of the national network. This is an indication that the WB is confident in the Egyptian economy, Electricity Minister Hassan Younis said.
Younis estimated the total WB contributions to electricity projects in Egypt to reach some $ 2 bn. Over the past few years the WB has become an important development partner in Egypt’s energy sector through financing projects in renewable and natural gas-based conventional technologies, Younis said.
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