CABINET WATCH- The Madbouly Cabinet approved on Thursday a USD 500 mn loan from the World Bank to support Egypt’s social safety net for three years, according to an official statement. Egypt had signed the agreement for the facility, which will be used to expand the Takaful and Karama cash subsidy programs, in September.

Siemens Gamesa awarded Ras Ghareb wind farm contract? The council of ministers also gave the Egyptian Electricity Transmission Company the green light to contract Siemens Gamesa to build a 500 MW wind energy plant under a build-own-operate framework. The statement does not specify the location of the plant, but our guess is that it’s Lekela’s Ras Ghareb plant. Local press reports last week had suggested that Denmark’s Vestas was the frontrunner in the tender.

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