EU allocates EUR68 million for Egypt Gas Connection Project

European Union (EU) has allocated EUR68 million as a grant contribution to Egypt Gas Connection Project, aiming to address key priorities in Egypt’s energy sector and boost its economic development. This project will be implemented in collaboration with French Development Agency (AFD) that will contribute with another EUR70 million loan and World Bank (WB) that offered already a US$500 million loan. This comes as Egyptian government has identified among its immediate priorities the need to increase the household use of natural gas. EU grant will concretely support an estimated 800,000 poor households by reducing to half the cost of installing their gas connection. In due course, this project will alleviate financial burden and support disadvantaged population in switching to natural gas. With this support, EU intends to enhance jobs’ creation and service delivery to citizens in Egypt.