FINANCIAL NEWS

Egypt allocates USD55.52m for slums

15 Apr 2015

(MENAFN) Through cooperation between The New Urban Communities Authority (NUCA) and the Ministry of Urban Development, Egypt is set to spend USD55.52 million on slums, Daily News Egypt reported.

According to the Minister of Housing, the transaction comes under the financial year 2015-2016 anticipated plans, with all needed accommodations and substructure set to be founded in the areas allocated for the slums.

The project also includes the building of several treatment plants for water in various cities including 6th of October City, New Damietta and Obour, the minister added, commenting that aid from UAE will further facilitate the process.

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