The African Development Bank (AfDB)’s board of directors has approved $27.2 million in loan financing for the design, construction, and operation of a 200 MW solar project at Kom Ombo in Upper Egypt. The project’s cost is estimated at $156.4 million. The European Bank for Reconstruction and Development, the Green Climate Fund, Arab Bank, and the OPEC Fund for International Development will also contribute funding. The project is owned by ACWA Power, a solar project developer.