Egypt is to establish a major – EGP 43mn- investment complex in the southern governorate of Qena within the next 10 months, Invest-Gate reports.

“The government will provide the city with approximately USD 127 mn within days to develop infrastructure projects and establish industrial zones,” says Minister of International Cooperation and Investment Sahar Nasr, while placing the foundation stone of the project spanning 4,000 square meters.

The projects are funded by the World Bank which granted Egypt a USD-500-mn loan to carry out infrastructure projects in the southern cities of Sohag and Qena, according to a released statement.