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Egypt’s renewable energy projects eye $3bn financing

CAIRO, December 7, 2016

A total of 30 international and local banks are preparing to negotiate with renewable energy projects to finance the second phase of the feed-in tariff projects with $3 billion, a report said.

The banks include the International Financing Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Export-Import Bank of China, the KfW Development Bank, BNP Paribas, HSBC, and the African Development Bank (AFDB), Daily News Egypt reported, citing government sources.

The list also includes English, American, Norwegian, and Italian banks, as well as Arab banks, such as the National Bank of Egypt, Emirates NBD, the Commercial International Bank (CIB), the Arab African International Bank (AAIB), Banque Misr and the Al Baraka Bank of Egypt.

The sources added that a number of banks had approved the financing of projects in the first stage but pulled out due to a dispute on the conditions of arbitration. After its amendment, the banks will continue to negotiate with investors.




Tags: Renewable energy | Egypt | Financing |

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