In Egypt, 30 international and local banks are preparing to negotiate with renewable energy projects to finance the second phase of the feed-in tariff projects with $3bn.

Government sources said that the list of banks include the International Financing Corporation (IFC), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Export-Import Bank of China, the KfW Development Bank, BNP Paribas, HSBC, and the African Development Bank (AFDB).

Several banks had approved the financing of projects in the first stage but pulled out due to a dispute on the conditions of arbitration. After its amendment, the banks will continue to negotiate with investors.

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