German bank to fund Aswan Dam, construction of solar plant in Egypt
The Aswan Dam provides half of Egypt’s power supply. Egypt is also working to increase its use of solar power.
The Egyptian government has obtained funding to rehabilitate its dam on the Nile River.
Germany’s KfW Development Bank agreed to finance $28.3 million for a rehabilitation project of hydroelectric stations in the Aswan Dam in southern Egypt, Egypt’s Ministry of International Cooperation announced Wednesday in a tweet.
The bank also agreed to provide $31.5 million in financing for Egypt’s solar power plant in Zaafarana in northern Egypt, the state-owned Al-Ahram reported Thursday.
Why it matters: The Aswan Dam provides power to about half of Egypt’s population. It also brings water to Sudan. Egypt has a population of more than 100 million.
