Egypt’s Misr Iran Bank agreed to fund two government authorities with EGP 200m. Both the Ministry of Electricity and Renewable Energy and the Ministry of Petroleum and Mineral Resources will each get EGP 100m in funding, reported Al Borsa News.

The bank has invested a total of EGP 1.6b to fund various loans, as it has received several loan requests from the real estate and power sectors, with requests from state owned companies, specifically in the fields of electricity, energy, and fuel, increasing over the course of the three months.

In older news, the Ministry of Electricity agreed to obtain a loan worth EGP 5b to pay its dues to the Egyptian General Petroleum Corporation (EGPC) for fuel provided to power plants while EGPC agreed to incur EGP 1.25b in interest fees for the loan.