Japan has granted a $432-million soft loan to Egypt for a 220-MW wind farm project in Gabal El Zeit, located on the western coast of the Gulf of Suez.
Egypt’s Electricity and Energy Minisster Hassan Younis met with Japan’s ambassador Kaoru Ishikawa on July 10 thanking the Asian country for its strong support in Egypt’s RE sector, including the 140 MW Kurymat solar plant.
Under the terms, the loan will be paid back with 0.3% interest over 40 years following a 10-year grace period.
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