A World Bank delegation visited Egypt to follow up on the progress of the Social Housing Project, to which it has provided with financing worth $500 million, reported Al Mal News.
Minister of International Cooperation Sahar Nasr welcomed the delegation, emphasizing the importance of the project and mentioning that it was launched by Egyptian President Abdel Fattah Al Sisi. She further highlighted that the project is a top priority that seeks to close the housing gap in the country.
The project has already helped 53,000 families and is expected to benefit more than 820,000 low-income families by 2020, according to the World Bank, which stated that the project should be serving 3.6 million citizens upon completion, according to Al-Ahram.
Nasr additionally highlighted the importance of developing informal settlements in Egypt with the delegation, further noting that the project is expected to provide approximately 1.5 million job opportunities over six years, as the program proceeds.