CAIRO: The World Bank has agreed to give Egypt up to $1.14 billion in support for electricity projects, a minister said in a statement on Sunday.
Electricity Minister Hassan Younes said "there is an agreement with the World Bank to fund several projects with up to $1.14 billion."
The projects include a 1500-megawatt power plant in Giza province and transport infrastructure between power plants.
The World Bank last week pledged up to $6 billion in new aid to Egypt and Tunisia to help modernize and revitalize their economies after revolts which ejected long-serving strongmen earlier this year.
Egypt faces a budget deficit of between 9.9 and 11 percent for the 2011-2012 fiscal year, according to Finance Minister Samir Radwan.
