ELECTRICITY AND GREEN GROWTH SUPPORT PROGRAM (EGGSP) PHASE I (AFDB-P-EG-FA0-005)

Countries
  • Egypt
Where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 17, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Egypt
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 254.09 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 8, 2020


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Project Description

According to bank documents, the main goal of the program is to promote a sustainable, competitive and diversified electricity sector for ensuring security of supply and supporting climate change mitigation and green growth.The expected outcomes of the program are: i) rationalization of the electricity tariff; ii) enhanced financial sustainability of the electricity sector; iii) improved corporate governance and competitiveness of the key electricity sector institutions; iv) enhanced security of energy supply through promotion of renewable energy and energy efficiencyfor fostering climate change mitigation and green growth; and v) stronger engagement of the private sectorfor better service delivery.

Investment Description
  • African Development Bank (AFDB)
Contact Information

EL-ASKARI Khaled Mohamed Samir
k.elaskari@afdb.org 

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.