Middle East Economic Survey
OFID Agrees To $40mn Loan For El-Tebbin Power Plant
The OPEC Fund for International Development (OFID) agreed on 11 December to a loan of $40mn towards financing the gas-fired El-Tebbin power station. The 700mw plant is being constructed outside Cairo to help meet the citys growing electricity demand. Co-financiers in the project, expected to cost $595mn, are the World Bank (WB) and the Egyptian government. The WB announced that it...