Minister of Housing Mostafa Madbouly has signed a USD 8.1 mn deal with Switzerland to fund an urban development project, as part of an Egyptian-Swiss agreement for financial and technical cooperation in 2013, Invest-Gate reports.

‘Hayyena ‘project will cost USD 11.8 mn, of which the government will provide the remaining USD 3.7 mn, and will be implemented in two pilot governorates between 2018 and 2024, in cooperation with the United Nations Human Settlements Programme (UN-Habitat).

“The project will be implemented in four targeted areas in Qena governorate. The second governorate will be selected after consultation with the parties involved in the planning and implementation of the project,” Madboly said.

The Swiss side and UN-Habitat had visited Qena last month to meet the governor to prepare for the project implementation.

The project aims to promote urban development, support local economic development, enhance the citizen’s quality of life and increase the size of local resources.

It will generate a number of direct and indirect employment opportunities, as well as a number of small and medium-sized private sector projects.