FINANCIAL NEWS

Egypt to offer Sinai projects to Arab institutions

21 Dec 2015

(MENAFN) Egypt will offer development projects in Sinai Peninsula at the cost of USD 1.5bn to Arab institutions, as stated from Minister of International Cooperation.

Sinai is a dynamic and strategic region for the country and a priority in its national security agenda, and the situation in the region increased alarm over the past two years.

Additionally, the Egyptian Ministry of Housing planned for 15 development communities in North Sinai this year at the cost of USD 2.03mn.

For agriculture recovery purposes, the interim government claimed last year a bid to reclaim a whole area of 40,000 acres in Sinai, with the UAE offering to finance the process.

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