France to Provide Egypt with 175 Million Euros to Finance Energy Sector

During a meeting in Cairo on Tuesday with International Cooperation Minister Sahar Nasr, French Minister of Development Jean-Marie Le Guen announced France's plans to provide Egypt with 175 million euros to be invested in its energy sector, according to Al-Ahram.

In an official statement on its website, the Ministry of International Cooperation said that 150 million euros of the total funding are to be allocated for electricity, while 25 million euros are to be invested in fossil fuels. It wasn't made clear whether the funds would be provided as a loan or a grant.