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Egypt’s ISDF to invest EGP 3.4bn in developing 79 unplanned areas in FY20/21

Egypt’s ISDF to invest EGP 3.4bn in developing 79 unplanned areas in FY20/21
The fund plans to invest EGP 318 billion over 10 years

By: Abdullah Bedeir

Cairo – Mubasher: Egypt’s Informal Settlements Development Fund (ISDF) has completed the development of 53 unplanned areas at a value of EGP 1.1 billion, the fund’s Executive Director, Khaled Siddiq, told Mubasher.

Moreover, the ISDF plans to develop 79 unplanned areas in fiscal year 2020/2021 at a total cost of EGP 3.4 billion, Siddiq revealed.

The fund’s 10-year plan includes the development of unplanned areas totalling 152,000 feddans at a combined cost of EGP 318 billion.

Siddiq previously said in an interview with Mubasher that the fund has spent EGP 29.5 billion out of total allocated budget of EGP 38 billion on developing unsafe slums since 2016.

The remaining amount of EGP 8.5 billion is planned to be injected during the first quarter (Q1) of 2021.