Export-Import Bank of India (Exim Bank) has allocated about $30.4 million to finance three solar power plants in the Benban Solar Park, the largest solar energy complex in the world that Egypt is building in Aswan.

The announcement was made during the India-Africa Project Partnership conclave that took place on March 17 – 19 in New Delhi, unveiling the bank’s interest in the African market by dedicating around $8.2 billion to finance more than 1,400 projects, according to Al-Ahram.

David Paul Rasquinha, Managing Director of Exim Bank, said that the plan is to finance the establishment of three 50-megawatt stations in the Benban complex with a total generation capacity of 150 (MW).

Rasquinha also pointed out that the Indian Bank aims to invest in African projects that span across 40 countries, targeting all sectors that enhance economic development and growth opportunities in the continent.