CAIRO - 16 July 2026: Egypt's Cabinet approved a draft presidential decree ratifying €37 million in financing agreements to support the country's electricity grid, as part of the energy pillar of the NWFE (Nexus of Water, Food and Energy) program.
The financing package includes a €35 million investment grant from the European Union and a €2 million technical cooperation grant from the European Bank for Reconstruction and Development (EBRD).
The project aims to modernize Egypt's national electricity transmission and distribution network by enhancing grid stability and expanding its capacity to integrate wind energy. The initiative supports Egypt's long-term strategy to accelerate renewable energy deployment by 2030.
In a separate decision, the Cabinet approved moving forward with procedures to increase the authorized capital of the Suez Canal Modern Boats Company from $100 million to $250 million.
The government also approved a draft law to merge the Egyptian Agricultural Authority into the Agricultural Research Center (ARC). Under the proposal, the ARC will assume all of the authority's responsibilities and powers.
The Cabinet said the merger is intended to improve institutional efficiency, unify agricultural research and development efforts, and enhance the performance of government entities under the Ministry of Agriculture and Land Reclamation.
It added that the move forms part of the state's broader plan to improve public sector performance and the quality of services provided to citizens.
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