Africa Energy: Egypt spurs electricity grid development with a $1.4bn investment in two years

Egypt has set aside 25-billion Egyptian pounds (around $1.4-billion) to be spent over two years on developing the country’s electricity network, the electricity minister said on Wednesday.

The Minister, Mohamed Shaker, told reporters the government had agreed on a loan worth 60-billion Kuwaiti dinars (around $200-million) from the Kuwait-based Arab Fund for Economic and Social Development to build three new converter stations.

Mr. Shaker gave no further details.source: Reuters