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Egypt’s ISDF spends EGP 29.5bn on developing unsafe slums

Egypt’s ISDF spends EGP 29.5bn on developing unsafe slums
The ISDF has completed the development of 180,000 residential units

By: Abdullah Bedeir

Cairo – Mubasher: Egypt’s Informal Settlements Development Fund (ISDF) has spent EGP 29.5 billion out of total allocated budget of EGP 38 billion on developing unsafe slums since 2016, the fund’s Executive Director, Khaled Siddiq, said.

The remaining amount of EGP 8.5 billion is planned to be injected during the first quarter (Q1) of 2021, Siddiq said in an interview with Mubasher on Sunday.

By early 2021, the development of all unsafe areas, excluding Maspero Triangle, will be complete, he revealed.

The ISDF has completed the development of 180,000 residential units as part of the unsafe area development project, while about 60,000 residential units are still under development.

The project was scheduled for completion in 2019, but the number of units to be developed increased to 240,000 from 180,000.