The World Bank funds a USD 500 mn developmental project in Upper Egypt to improve the living standards in the southern governorates of Sohag and Qena, Invest-Gate reports.

“The US-funded program has chosen the two Upper Egyptian governorates due to their highest poverty rates, large population, and available economic opportunities,” Minister of International Cooperation and Investment Sahar Nasr says.

Nasr adds that the program seeks to stimulate the country’s economic growth by carrying out developmental projects in those southern governorates and improving the region’s business climate.

During a youth conference in the southern city of Aswan this year, President Abdel-Fattah El-Sisi called for improving living standards and boosting investments in the Upper Egyptian governorates which have long been neglected by successive governments.