The Arab Fund announces the winning project for the Abdlatif Y. Al-Hamad Development Award in the Arab world

The Arab Fund selected the South Helwan Power Generating Project, in the Arab Republic of Egypt, as the winner of the Abdlatif Y. Al-Hamad Development Award in the Arab world for the year 2022. The announcement was made during Annual Meetings of the Board of Governors of the Arab Funds that was held in Rabat, the Kingdom of Morocco, on Saturday April 29th, 2023.

The Award ceremony included showing a video describing the nature of the Award, a video about the winning project, along with a speech by the Director General / Chairman of the Board of Directors of the Arab Fund, a speech by the Director General of the OPEC Fund for International Development, the institution that nominated the project, a speech by the Chairman of the Board of the Upper Egypt Generating Company, the company that executed the project, along with a speech by the Chairman of the Board of (PGESCO), the consulting firm that prepared the tender documents for the project and oversaw its execution.

1 / 9

2 / 9

3 / 9

4 / 9

5 / 9

6 / 9

7 / 9

8 / 9

9 / 9

It is to be noted that six Arab Funds sent nominations for twelve projects, and that an independent, and highly respected, panel composed of three distinguished members having extensive knowledge in development selected the South Helwan Power generating Project for winning the 2022 version of the Award.

The winning project was selected based on several attributes, most notably the size of the project (1.95 GW), the fact that 7 financial institutions and banks contributed towards its cost (around $1.5 Billion), the project created over 4,500 job opportunities, that it covers around 7% of the overall demand for electric energy on the Egyptian network, and that it was completed on time and came in at 45% below budget.

To watch a video explaining why the name of Mr. Al Hamad was given to the award, and to know more details about it, watch the below video.