Sohag to start spending World Bank allocations: Governor

CAIRO – 11 July 2017: Sohag governorate finished coordinating with relevant ministers to start spending its allocations from the $125 million grant offered by World Bank, governor Ayman Abdel Moneim said Tuesday.

The sum will be used in infrastructure and industrial projects, Abdel Moneim added in a statement.

The projects are part of a $500 million program, approved by the World Bank to achieve economic growth in Upper Egypt’s governorates, specifically in Qena and Sohag.

The two governorates were given priority due to their huge population numbers, poverty rates and economic abilities, Minister of Investment and International Cooperation Sahar Nasr said in a June statement.

Aiming to support the private sector and create sustainable job opportunities, the program works to improve business climate by developing infrastructure and existing industries especially in the food sector.

This program would help improve the economic competitiveness of Egypt’s least growing governorates, according to the World Bank said.