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Egypt allocates EGP 2.9bn investments to develop Qena, Sohag in FY20/21

Egypt allocates EGP 2.9bn investments to develop Qena, Sohag in FY20/21
Water and sanitation projects account for 43% of investments

Cairo – Mubasher: The Egyptian Minister of Planning and Economic Development, Hala El-Saeed, announced the allocation of EGP 2.9 billion in investments for the local development of Upper Egypt in fiscal year 2020/2021.

These investments include EGP 1.3 billion to Qena and EGP 1.6 billion to Sohag, of which 61% will be financed by loans and the remaining amount will be financed by the state treasury, El-Saeed added in a statement on Thursday.

Water and sanitation projects account for EGP 2.5 billion or 43% of the total investments allocated for the two governorates, while road and transportation projects make up EGP 1.3 billion or 22.3% of investments.

Investments to local units and environment enhancement sector reach EGP 544.2 million and EGP 482.4 million, respectively.