The Cabinet of Ministers has approved two loans worth a total of EGP37bn  for the Egyptian Electricity Holding Company, according to Al Borsa. The loans were approved by the President, with the purpose of improving the performance of the electricity grids by focusing on transmission and distribution, following recent capacity additions. The first loan will be issued by National Bank of Egypt for EGP19bn and will be earmarked for the distribution of electricity, whereas the other EGP18bn loan will be financed by Banquer Misr and will be used to fund transmission projects. Earlier in January 2017, Ministry sources had told Al Borsa that it had plans for EGP37mn worth of investments for distribution and transmission of electricity, given that current power generation capacity (including projects currently under construction) are sufficient to meet demand, and will focus in the coming period on renovating and expanding the electricity grid. (Al Borsa)