The Egyptian Ministry of Electricity will hold a meeting with international financial institutions to discuss possible ways of funding renewable energy projects in phase II of the Feed-in Tariff (FiT) program, reported Al Borsa News.

New and Renewable Energy Authority’s (NREA) Chairman, Mohamed Salah Al Sobky, stated that the main reason of meeting with international institutions is to answer their enquiries about phase II of the FiT program and to reach loan agreements to finance companies’ in the new and renewable energy sector.

The meeting will be held in the ministry’s headquarter in Al Abbassiya and will be attended by all the financial institutions including the International Finance Corporation (IFC), European Bank for Reconstruction and Development (EBRD), and the European Investment Bank.

In related news, IFC confirmed its commitment to Egypt’s energy sector and supporting the government’s agenda of promoting private, sector-led, renewable energy projects.