The Egyptian government and German Development Bank KfW have signed a €26 million financing agreement for the rehabilitation of three hydroelectric projects in Aswan, Daily News Egypt has reported.

The project will involve replacing transformers at the hydroelectric facilities, which have a combined capacity of 2560MW.

The financing deal was signed by the Minister of International Cooperation Rania Al-Mashat and Bernd Siegfried, Director of the KfW office in Cairo.