February 18, 2021
On February 15, the Japan International Cooperation Agency (JICA) signed a loan agreement with the Government of the Arab Republic of Egypt in Cairo to provide a Japanese ODA loan of up to 25 billion yen for Development Policy Loan for Power Sector Reform.
The objective of the program is to enhance sustainability and stability in the power sector through supporting policy reforms such as improving both governance and financial sustainability and promoting energy efficiency and renewable energy for green growth. This will contribute to promoting economic stabilization and development efforts in Egypt. This project will contribute to the achievement of SDGs Goals 7, 8, and 13.
This program loan is a co-financing program with the African Development Bank (AfDB) and Agence Française de Développement(AFD). It will contribute to the Enhanced Private Sector Assistance for Africa (EPSA4) initiative, which is a development partnership between AfDB and the Government of Japan, that was launched at the Seventh Tokyo International Conference on African Development (TICAD7) in 2019.
Details for the project are provided below.
1. Terms and Amount of Loan
|Annual interest rate (%)||Repayment
|Development Policy Loan for Power Sector Reform||25,000||0.65||-||20||6||General untied|
2. Executing Agency
Ministry of Electricity and Renewable Energy
Address: Ramsis St., Abbassia, Cairo, Arab Republic of Egypt
3. Planned Implementation Schedule
(1) Completion of program loan: June 2021 – with completion of the loan disbursement
(2) Issuing of letters of invitation for consulting services (including detailed design work): No hiring of consultants is planned for this program loan.
(3) Tender announcement of the initial procurement package for international competitive bidding on the project construction: No work in conjunction with bidding is planned for this program loan.