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AfDB may offer $400m to Egypt wind power project

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.