CAIRO – 24 August 2021: A banking consortium consisting of 4 banks signed a joint financing contract worth LE 4 billion with the Egyptian Electricity Transmission Company. The consortium included: the National Bank of Egypt, the Commercial International Bank, Bank Du Caire and National Bank of Kuwait. The financing comes for the purpose of contributing to the investment cost of some of the Egyptian Electricity Transmission Company's projects. “We are working to absorb the new capabilities added from renewable energy, reduce electrical losses in the network and strengthen the electrical connection with neighboring countries,” Minister of Electricity, Mohamed Shaker, said. The ministry has implemented many projects in the field of overhead lines and transformer stations on high and high voltages at the level of the Republic, with the aim of developing electricity transmission networks.
