Arab Finance: The Egyptian government is in talks with the European Union (EU) to secure a €2 billion grant for the electrical interconnection projects with Greece and Italy, Al Arabiya Business reported, citing government sources.
Feasibility studies on both projects are still under way, the sources added.
They pointed out that backing the electrical interconnection projects with Greece and Italy would be a priority for the EU and would be financed under the €7.4 billion funding package dedicated to Egypt.
The projects are set to transfer clean energy from Egypt to Europe via Greece and Italy as well as contribute to reduce carbon emissions.