The Egyptian Ministry of Investment and International Cooperation and the US Agency for International Development (USAID) inked on December 16 a USD 6 mn (EGP 96.3 mn) funding deal for phase II of the North Sinai development initiative, Invest-Gate reports.

Bringing the total in the bilateral assistance program to the governorate to a whopping USD 56 mn (EGP 899 mn) the bilateral agreement builds on previous investments and aims to offer potable water to about 300,000 people and sanitation services to around 100,000 others. Besides, USAID endeavors to develop infrastructure and support the neediest citizens in North Sinai, according to a recent ministerial statement.

Lauding the latest move, US Ambassador Jonathan Cohen pinpointed, “This agreement reflects our strong and enduring partnership with the Ministry of Investment and International Cooperation and the US Government’s commitment to the people of Egypt, especially for critical economic development efforts in the Sinai area.”

According to the statement, the scheme comes as part of a four-decade collaboration between both sides, in a bid to bolster self-reliance, foster stability, promote economic growth, and curb poverty levels. USAID’s project in Egypt, amounting to more than USD 30 bn (EGP 481.4 bn) since 1978, helps in developing a healthy, educated, and employed population.

The excavation of water wells in North Sinai’s Al Rawda Village as well as the construction of several desalination plants, a fish farm, alongside the reinforcement of transportation services, are among the manifold merits coming under the US-Egypt program.