The African Development Bank Group (AfDB) is considering providing $400 million for the development of a wind power project in Egypt.
The project which will have a public-private partnership requires a total investment of $1.5 billion, according to the Amwal Al Ghad magazine report.
The wind farm backing will represent a portion of AfDB’s planned support for infrastructure and energy projects in Egypt this year, Leila Mokaddem, the bank’s resident representative in Egypt was quoted as saying.
AfDB may also provide $50 million in financing for a solar photovoltaic project in Egypt, Amwal Al Ghad had reported last month.
