Arab Fund to provide Egypt with USD 200 mn to fund electricity grid upgrades

Arab Fund to provide Egypt with USD 200 mn to fund electricity grid upgrades: Egypt signed a USD 200 mn funding agreement with the Arab Fund for Economic and Social Development to finance the development of Egypt’s electricity transmission network, according to a statement from the Investment and International Cooperation Ministry on Tuesday. The agreement was signed on the sidelines of the IMF and World Bank Spring Meetings, according to the release.