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FINANCIAL NEWS
Egypt allocates USD14.57m to develop slum areas
04 Oct 2015
(MENAFN) Egyptian Minister of Housing has decided to allocate USD14.57 million from a grant by the German Society for International Cooperation (GIZ) towards launching development projects for citizens living in slum areas.
A national strategic plan was put by the Ministry of Housing to develop slums in cooperation with the relevant ministries. The planned investments include areas such as sanitation and housing projects.
The plan will be attached to the sustainable development strategy for Egypt 2030. The strategy was developed by the Ministry of Planning and was announced in March 2015, he said.
“We are currently working on speed up the implementation of the projects. We have put up a specific timetable for the development of all unsafe slums, as they would be fully developed in three years,” he added.
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