Japan's JICA funds power sector reform in Egypt
The Japan International Cooperation Agency (JICA) has awarded a JPY25bn (US$240m) Official Development Assistance (ODA) loan to Egypt to reform its power sector. The project, which is also supported by the AfDB (US$270m) and the AFD (US$90m), aims to enhance sustainability and stability in the power sector through supporting policy reforms such as promoting energy efficiency and renewable energy for green growth. Specifically, the program aims to improve the cost recovery rate for electricity charges from 70% in 2018 to 100% in 2021 and increase the share of renewable in the power generation mix during peak load times from 23% in 2018 to 20% in 2021.
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