Egypt receives $800m from EU for clean-energy grid upgrade

Egypt has secured up to €690 million ($800 million) from the European Union (EU) to upgrade and expand its electricity network.

The package includes a €600 million loan from EIB Global, the European Investment Bank’s development arm, and up to €90 million in grants by the European Commission.

The project, led by the state-owned Egyptian Electricity Transmission Company, aims to integrate 22 gigawatts of renewable-energy capacity into the grid by 2030, which will power about 10 million households, the European Commission said in a statement.

The project is one of the first under the Trans-Mediterranean Renewable Energy and Clean-Tech Cooperation Initiative (T-MED), a flagship of the Pact for the Mediterranean, to support renewable energy and clean-tech cooperation between the EU and its southern Mediterranean partners.

In March 2024, the EU agreed a €7.4 billion funding package to support Egypt’s economy. The deal comprised €5 billion in concessional loans, €1.8 billion in investment and €600 million in grants over three years.

The European Bank for Reconstruction and Development agreed in October 2025 to provide €200 million to support Cairo’s planned transition to a green economy.

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