Qena industrial zones receive LE 150M from World Bank fund



Tue, 02 Jan 2018 - 10:35 GMT


Tue, 02 Jan 2018 - 10:35 GMT

ILE- Minister of Industry and Foreign Trade Tarek Kabil

ILE- Minister of Industry and Foreign Trade Tarek Kabil

CAIRO - 2 January 2018: "The Ministry of Industry pumped LE 150 million to Qena governorate as part of a World Bank-funded program for Upper Egypt development," Minister of Industry and Foreign Trade Tarek Kabil announced Tuesday.

"The amount was disbursed to develop the infrastructure of two industrial zones in Qena, where each of them received LE 75 million,"Kabil said during his visit to Qena Tuesday morning, along with Minister of Planning Halael-Said, to follow-up on the development works there.

With a total value of $500 million in funding, the first phase of the program aims to develop six industrial zones; two in Qena and four in Sohag governorate.

Kabil explained that they will set performance index and action plans for each zone through setting investment priorities and the competitive advantage of each of them, "which will encourage investors and owners of small and medium enterprises," he said.

Last month, the Egyptian Cabinet approved the first phaseof projects executed at a cost of LE 2.1 billion in Qena and Sohag governorates.

In Sohag, 14 wastewater projects are planned to serve eight towns and 12 villages, in addition to six roads, and four canal piping projects, serving three towns, as well as water supply networks.

In Qena, five wastewater and eight water supply projects are planned. Institutional development in the governorate will be accomplished at a cost of LE 16 million.

The loan by the World Bank was approved by the cabinet in June.

The Central Agency for Public Mobilization and Statistics (CAPMAS) revealed in July that 27.8 percent live below the poverty line;most of these reside in Upper Egypt.



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