Prime Minister Mostafa Madbouly, held a meeting to follow up on securing financing for new and renewable energy projects, ensuring alignment with their implementation timelines, according to a statement issued by the Cabinet.

Madbouly emphasized that mobilizing the required funds is essential to support the national electricity grid, reduce reliance on conventional fuels, and enhance energy efficiency. He also called for continued coordination between the Ministries of Electricity and Finance, along with relevant entities, to accelerate the integration of additional clean energy capacities to meet rising demand and ensure service sustainability.

The meeting highlighted the government’s strong commitment to renewable energy projects, stressing the importance of strict adherence to execution schedules. It also reviewed requirements for upgrading the electricity transmission and distribution network, including providing necessary equipment for replacement and modernization to improve efficiency and minimize energy losses.

Egypt is increasingly seeking international financing and private-sector partnerships to support its renewable energy expansion and accelerate project implementation. In this context, the European Bank for Reconstruction and Development (EBRD) is evaluating a $70 million financing package for the Nubia Benban solar project, following a $65 million bridge loan in April 2026.