The African Development Bank (AfDB) Group has greenlit up to $184.1 million in financing for the Obelisk solar energy project in southern Egypt.
In its 2025 African Economic Outlook report, the bank highlighted the resilience of Egypt’s economy, attributing it to several key factors.
Al-Mashat emphasized that the agreement with the AfDB is a continuation of the government’s ongoing efforts with international partners to implement the national structural reform program.
The funding includes six initiatives aimed at enhancing the private sector, she explained during the opening of a mid-term evaluation workshop for the joint country strategy for development cooperation between Egypt and the AfDB, covering the years 2022-2026.
According to a ministry statement, the discussion centered on the longstanding partnership between Egypt and the AfDB, which dates back to 1974
