Egypt-Greece Electricity Interconnection Project to Begin This Year with €1 Billion in Funding (Greek City Times)

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According to government sources, Egypt will begin its electricity interconnection project with Greece before the end of the second half of this year.

Designated as a priority initiative within the European Union, the project is expected to receive a €1 billion grant and concessional financing.

Sources told Al Arabiya Business that three European financial institutions have shown interest in funding the joint Egypt-Greece electricity transmission project. Further discussions on financing arrangements are scheduled for next month.