Loan from KFAED to Aid Egyptian Power Project

Thursday, August 18, 2016

Egypt’s House of Representatives saw its Energy and Environment Committee approve a $108 million loan from the Kuwaiti Fund for Arab Economic Development (KFAED). The loan will be used to fund the South Helwan power plant project.

The loan comes with an interest rate of 2.5% and a 20-year repayment period.

The power plant is expected to add approximately 1,950 MW to Egypt’s national grid.

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