Minister of Investment Sahar Nasr - File photo
CAIRO – 5 July 2017: Minster of Investment and International Cooperation, Sahar Nasr, announced an increase of the funds coming from Tahya Masr Fund to support the social protection programs, including the urban development projects, a Ministry press statement read on Wednesday.
As per the directives of President Abdel Fatah al-Sisi, Nasr said that LE 200 million ($11.1 million) are already assigned to the development of the most-in-need villages across 14 governorates. An additional fund of LE 26.3 million is under consideration for the completion of the third phase of the development scheme in Al-Assal district in Shoubra, Northern Cairo.
In press remarks, Nasr announced that 3734 residential buildings in 104 villages were developed, with a total cost of LE 89 million, besides 250 buildings in North Sinai. Additionally, a total sum of LE 113 million is to be shelled out on the development projects taking place in Luxor governorate.
A number of field visits to said areas will be organized in the coming period to assess the progress made and to get to grips with the people’s needs, Nasr assured in the statement, confirming that more funds are to be forked out for bettering the lives of youth in the needy areas and to maximize their employment opportunities
Tahya Masr (The Long Live Egypt) Fund was initially established by President Sisi in 2014 to elicit donations in support of Egypt's development projects and its economy.