{"id":597821,"date":"2019-05-06T04:16:48","date_gmt":"2019-05-06T04:16:48","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/world-bank-chief-says-benban-solar-park-shows-commitment-to-supporting-the-private-sector\/"},"modified":"2019-05-06T04:16:48","modified_gmt":"2019-05-06T04:16:48","slug":"world-bank-chief-says-benban-solar-park-shows-commitment-to-supporting-the-private-sector","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/06\/world-bank-chief-says-benban-solar-park-shows-commitment-to-supporting-the-private-sector\/","title":{"rendered":"World Bank chief says Benban solar park shows commitment to supporting the private sector"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <b>World Bank boss points to Benban solar park as evidence of Egypt\u2019s support for the private sector:<\/b> The 1.6 GW solar power park in Benban, which has so far drawn over USD 2 bn in investment, demonstrates Egypt\u2019s commitment to supporting the private sector, newly-appointed World Bank Group President David Malpass said during a trip yesterday to Aswan. \u201cThe key is creating a level playing field for the private sector,\u201d Malpass told reporters during his first international trip since he assumed office. He stressed that strong collaboration between the WB and the Egyptian government is behind the success of the project, which the group recently <a href=\"https:\/\/enterprise.press\/stories\/2019\/03\/21\/benban-solar-park-brings-optimism-but-egypt-has-a-way-to-go-to-reach-its-renewable-energy-goals\/\">selected as its top initiative for 2019<\/a>.<\/p>\n<p><b>How massive is the massive Benban solar park?<\/b> Just for context: The flagship project is equivalent in size to around 7,000 football fields, or one-fifth of Washington DC, IFC MENA Vice President Sergio Pimenta noted at the press conference. Nineteen of Benban\u2019s power stations with a capacity of 930 MW have already been linked to the national grid. The feed-in-tariff project will operate at full capacity this year, Investment Minister Sahar Nasr said.<\/p>\n<p><b>Malpass singles out EGP 1.35 bn Hassan Allam-TAQA Arabia facility:<\/b> While at Benban, Malpass visited the EGP 1.35 bn, 50 MW solar power plant built by a JV of Hassan Allam Holding and Qalaa Holdings subsidiary TAQA Arabia. The facility was financed in part by the World Bank\u2019s International Finance Corporation, <a href=\"https:\/\/ent.news\/2019\/5\/2056.pdf\">according to a statement (pdf)<\/a>. Construction of the plant was finished <a href=\"https:\/\/enterprise.press\/stories\/2019\/02\/04\/hassan-allam-taqa-complete-construction-of-egp-1-35-bn-benban-solar-plant\/\">earlier this year<\/a>; it began producing electricity in February, the statement says.<\/p>\n<p><b>Looking beyond energy:<\/b> It\u2019s important to see similar success stories in other sectors of the Egyptian economy and the region, Malpass said, pointing to the transport, agriculture as well as the water and sanitation sectors. In a meeting with President Abdel Fattah El Sisi and Prime Minister Moustafa Madbouly on Saturday, Malpass had discussed support for Egypt in infrastructure projects, labor force development and for SMEs. The WB president also signed a declaration of intent with SME Development Authority chief Nevine Gamea and visited the Takaful and Karama center in Aswan yesterday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>World Bank boss points to Benban solar park as evidence of Egypt\u2019s support for the private sector: The 1.6 GW solar power park in Benban, which has so far drawn over USD 2 bn in investment, demonstrates Egypt\u2019s commitment to supporting the private sector, newly-appointed World Bank Group President David Malpass said during a trip [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":597822,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[6045,72,890,150,151,2380,615,321],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597821","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-david-malpass","tag-enterpriseam","tag-hassan-allam-holding","tag-renewable-energy","tag-renewables","tag-speed-round","tag-taqa-arabia","tag-world-bank","wpautop","entry"],"acf":{"mongo_id":"b3e075f1-351c-45de-a6bd-949e4e25f442","is_powered_by":true,"section_story_id":"a616dd01-1ab5-4c79-b118-882d4c206957","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/5\/820.jpg","photo_position":"above","related_issue":[597812],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Malpass also reaffirmed the\u2026","rel":"","context":"In &quot;Diplomacy + Foreign Trade&quot;","block_context":{"text":"Diplomacy + Foreign Trade","link":"https:\/\/enterpriseam.com\/egypt\/category\/diplomacy-foreign-trade\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597767,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/05\/new-world-bank-president-visits-egypt\/","url_meta":{"origin":597821,"position":3},"title":"New World Bank president visits Egypt","author":"enterpriseam admin","date":"5 May 2019","format":false,"excerpt":"New World Bank boss is in Egypt; met El Sisi yesterday and heading to Benban today: World Bank President David Malpass discussed infrastructure, labor force development and cooperation on small and medium-sized businesses yesterday in a meeting with President Abdel Fattah El Sisi, according to an Ittihadiya statement. It\u2019s Malpass\u2019\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/1499.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":604671,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/10\/egypts-b-investments-mulling-usd-15-20-mn-acquisition-in-benban-solar-plant\/","url_meta":{"origin":597821,"position":4},"title":"Egypt\u2019s B Investments mulling USD 15-20 mn acquisition in Benban solar plant","author":"enterpriseam admin","date":"10 December 2018","format":false,"excerpt":"M&A WATCH- B Investments eyes 50% stake in 50 MW Benban solar plant: Private equity firm B Investments is looking to acquire a 50% stake in a 50 MW Benban solar plant for USD 15-20 mn, CEO Hazem Barakat told Al Mal. The company will make the decision in 1Q2019,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595458,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/26\/malpass-pledges-more-world-bank-support-for-egypts-infrastructure-projects-at-unga-meeting-with-el-sisi\/","url_meta":{"origin":597821,"position":5},"title":"Malpass pledges more World Bank support for Egypt\u2019s infrastructure projects at UNGA meeting with El Sisi","author":"enterpriseam admin","date":"26 September 2019","format":false,"excerpt":"WB boss Malpass pledges more support for Egypt\u2019s infrastructure projects: The World Bank is looking to push on with \u201cits growing cooperation with Egypt\u201d in sectors including infrastructure, private sector and SME development, transportation, energy, education, healthcare, wastewater treatment, and vocational training, World Bank President David Malpass told President Abdel\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/517.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597821","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=597821"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597821\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597812"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597822"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597821"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597821"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597821"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597821"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597821"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}