Egypt, Swedfund sign LOI to boost electricity, sustainable transport cooperation

Updated 5/28/2025 10:54:00 AM
Egypt, Swedfund sign LOI to boost electricity, sustainable transport cooperation

Arab Finance: Egypt’s Ministry of Planning, Economic Development, and International Cooperation signed a letter of intent (LOI)  with the Swedish Development Finance Institution (Swedfund) to enhance joint efforts in the electric power and sustainable transportation sectors, as per a statement.

The agreement was signed by Egyptian Planning Minister Rania Al-Mashat and Swedfund CEO Maria Håkansson during the Second Egyptian-Swedish Business Forum.

The signing took place in the presence of Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Swedish Minister for International Development Cooperation and Foreign Trade Benjamin Dosa.

Under the agreement, Swedfund will provide development grants for feasibility studies aimed at improving the efficiency and stability of Egypt’s electricity grid. It will also finance advisory services for the country’s Bus Rapid Transit (BRT) project.

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