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Egypt's fledgling solar industry attracted $1.8 billion of investment, largely from the European Bank of Reconstruction and Development and the World Bank's International Finance Corp. The EBRD is backing 16 photovoltaic projects, and the IFC is financing 13 in the sunny North African nation with a combined capacity of 1.4 gigawatts. Egypt is targeting to generate 20 percent of its electricity from clean sources by 2022 .The solar projects that got funding are being developed in the Benban solar park in Egypt's Aswan province in the southeast.The loans are part of a program that the EBRD began in 2015 to invest as much as $500 million in solar in Egypt.
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