IsDB Funds Energy Transformation Programs in Egypt

Jeddah, The Islamic Development Bank (IsDB) financed several energy projects in Egypt, leading to a 14% increase in energy production between 2012 and 2022, representing 94% of Egypt's energy capacity. The IsDB also facilitated the addition of nearly 4,000 megawatts-approximately 14% of this growth-and approved 19 projects valued at $2.02 billion, including six solar power projects. Among the key sustainable development goals (SDGs) that the IsDB has presented to Egypt are affordable and clean energy, decent work and economic growth, and industry, innovation, and infrastructure. The IsDB is committed to advancing sustainable energy, economic growth, and technological innovation in Egypt, and values partnerships aimed at achieving cost-effective and sustainable energy solutions. Source: Saudi Press Agency