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Egypt spends EGP 32bn on developing unsafe areas since 2016

Egypt spends EGP 32bn on developing unsafe areas since 2016
The slum development plan has an estimated cost of EGP 40 billion

By: Abdullah Bedeir

Cairo - Mubasher: Egypt has spent a total of EGP 32 billion on developing unsafe areas since 2016, the Executive Director of Informal Settlements Development Fund (ISDF), Khaled Siddiq, told Mubasher.

The slum development plan has an estimated cost of EGP 40 billion, Siddiq added, noting that the remaining EGP 8 billion will be injected in August and December. 

The project of developing unsafe areas will be finalised in two months, he pointed out. 

The fund has completed the establishment of 200,000 residential units as part of the slum development plan, which includes 657 unsafe areas, and work is underway for building 40,000 units divided over 14 projects. 

The project was scheduled for completion in 2019, but the number of planned residential units has been raised to 240,000, Siddiq added.

 

Translated by: Zeinab Adel