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Electricity Minister reviews energy project proposals with World Bank
The Minister of Electricity and Renewable Energy in Egypt, Dr. Mahmoud Esmat, discussed with a delegation from the World Bank ways to support and finance renewable energy projects and electrical infrastructure. The focus was on establishing a financial guarantee fund to encourage private investments, achieve financial sustainability, develop the smart grid, and increase the share of renewable energies to 45% within the next two years. The meeting also addressed ways to enhance cooperation in financing generation and transmission projects and to transform Egypt into a regional hub for energy exchange between Africa, Asia, and Europe.
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