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FINANCIAL NEWS
France to grant USD 75.5mn for Egyptian households
29 May 2016
(MENAFN) A USD 75.5mn grant from the French Development Agency (AFD) was confirmed by the cabinet in order to finance a mega-project in Egypt.
Furthermore, the project plans to expand access to natural gas to 2.4mn Egyptian households, concentrating on the lacking areas in different governorates.
Meanwhile, more than 75 percent of Egyptian households relay on liquefied petroleum gas, to supply their energy needs.
In addition, France confirmed a loan of USD 67.7mn to be financed by the AFD in order to fund the building of a local control center in the Nile Delta’s Daqahleya governorate.
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