$3.9 billion..Japan's development portfolio in Egypt
The Egyptian-Japanese relations began strongly since 1983.
Shrouq
the Ministry of International Cooperation said that the development cooperation portfolio between Egypt and Japan includes more than 18 development projects that support the government's plan to achieve sustainable development goals, with a value of about $3.9 billion, since 2010 until now.
The ministry revealed the development of Egyptian-Japanese relations at the level of development cooperation efforts, and the continuous progress in relations between the two countries following the visit of the Japanese Prime Minister to Egypt, and his meeting with President Abdel Fattah El-Sisi in the past days, where it was agreed to upgrade relations to the level of strategic partnership.
Japanese development
The report referred to many Japanese development grants in the fields of health, education, energy, electricity, transportation, civil aviation, tourism and antiquities, irrigation and education, in a way that supports sustainable economic growth, social inclusion, education development, human resources development, regional cooperation and support for the national strategy to combat climate change.
The most important projects being implemented in cooperation with the Japanese Bank for International Cooperation (JBIC) to support the electricity sector:
- An agreement was signed to implement a project to establish a wind farm with a capacity of 500 megawatts / watt in the Gulf of Zayt region, through cooperation with Sumitomo Company, with the rest of $281 million.
- In March 2023, the Japan Bank for International Cooperation signed a loan agreement with the Red Sea Wind Energy Company at a value of $240 million to implement a project to establish a wind energy farm in the Ras Ghareb region of the Red Sea with a capacity of 500 megawatts, and it will be implemented through Toyota Tsusho and Eras Electricity Holding Company.
- The project will be co-financed by the European Bank for Reconstruction and Development (EBRD), Sumitomo Mitsui Banking Corporation, Norinchukin Bank, and Societe Generale SA.
- In November 2022, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Abydos Solar Company to finance the Kom Ombo solar project in Egypt. The project will be co-financed with the International Finance Corporation (IFC).
- This project aims to increase the supply of electricity from renewable energy sources by building and operating a solar power plant with a capacity of 500 megawatts in Kom Ombo in Aswan, thus contributing to mitigating climate change by reducing carbon dioxide emissions in Egypt.
