AFESD Approves Funding Egypt - Saudi Arabia Power LinkageSource: www.export-egypt.com 12/24/2013, Location: Africa |
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Deputy Prime Minister and International Cooperation Minister Ziad Bahaa el-Din announced that the board of directors of the Arab Fund for Economic and Social Development (AFESD) has approved providing two soft loans, worth 362 million dollars, to contribute to funding the agreement between Egypt and Saudi Arabia to link their electricity grids and the Assiut Hydroelectric Power Plant about 650 megawatts of power.
In statements on 23/12/2013, Bahaa el-Din said that the project between Egypt and Saudi Arabia will allow power trading between the two countries. |
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