Forbes: Egypt Nails Down World Bank Support for Gas Projects

Slowly chipping away at Egypt’s deep energy woes, the government of President Abdul Fattah al-Sisi ratified a $500 million loan agreement with the World Bank that would allow funds to support a national natural gas project for 1.5 million households, according to local media reports.

The loan comes as a part of a broader push to diversify Egypt’s energy options, which has included encouraging domestic production efforts, new trade and financing deals with international partners and attempts to rein in spending on costly fuel subsidy systems.

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