Egypt Allots EGP 15.4 bn to Local Development in FY 2019/20

Egypt Allots EGP 15.4 bn to Local Development in FY 2019/20

Egypt’s Planning Minister Hala El-Saeed said the government has allocated investments totaled at EGP 15.4 bn for the local development program in FY 2019/20, Invest-Gate reports.

Cairo topped the country’s governorates in terms of investments with 16.3%, followed by Beheira at 6.1%, El-Saeed confirmed in a ministerial statement on August 29.

Public transportation networks account for the largest share by 42.3%, followed by environmental improvement services by over 25%, while local unit support and strengthening power grids stand at 15.6% and 9.8%, respectively, the minister pointed out.

As for the distribution of investments during this period, about EGP 5.77 bn are allocated for road paving and bridge improvement works, 21.8% of which are directed to Cairo, followed by Beheira and Assiut at 9.2% and 6%, separately. Besides, EGP 1.34 bn will be earmarked for advancing the country’s electricity networks in FY 2019/20, with a total of 23.38% awarded for Damietta and Marsa Matrouh.

One of the key pillars of the local development plan targets confining the development gaps in neediest villages, with investments estimated at EGP 7 bn apportioned to poorest towns of Assiut, Sohag, Minya, Qena, Luxor, Giza, and Aswan, distributed among different industries. The housing sector comes up first, acquiring 52% of total investments, followed by health and education 34%, collectively, El-Saeed concluded.


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