Egypt to allocate US$659 million to the regions’ development

18.07.24
17:12


Economics

Egypt to allocate US$659 million to the regions’ development

Most of the funding will go to road repair, construction, and transport upgrades

Egypt’s Minister of Local Development, Manal Awad, announced the launch of several local development programmes for the 2024–2025 fiscal year. Money is planned to be allocated to initiatives covering six key areas.

It is noted that these programmes will focus on local economic development, urban and rural development, optimising transport and roads, protecting the environment, and supporting local services.

Awad added that 41 per cent of the total funds will be directed to Upper Egypt’s governorates. This is in line with the government’s goal of emphasising regional development, as the minister pointed out.

More than US$53.8 million will be allocated to the local economic development programme. The initiative consists of establishing and equipping markets, handicraft zones, and production clusters.

Urban and rural development will receive 22 per cent of the total investment. These funds will contribute to the integrated and sustainable development of both rural and urban areas.

The Roads, Transport, and Public Transport Programme received the most funding. The programme will improve connectivity between localities, according to
Daily News Egypt, a partner of TV BRICS.

Photo:
iStock

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