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EGP 5.8bn for extending development beyond narrow valley of Nile - Daily News Egypt

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EGP 5.8bn for extending development beyond narrow valley of Nile

Public funds of EGP 1.5bn allocated to housing projects in New Valley governorate in 2020/21 plan: Minister of Planning Hala El-Said

Egypt’s Minister of Planning and Economic Development, Hala El-Said, has revealed that the New Valley governorate will receive EGP 5.8bn in public investments as part of the country’s plan for fiscal year (FY) 2020/21.

El-Said also said the investment represents an increase of 21% over the amount allocated to the governorate under the 2019/20 plan. The new figure accounts for 2.5% of public investments. The governorate now boasts a total of 153 development projects.

Regarding the distribution of public investments in the New Valley in the 2020/21 plan, the minister said EGP 1.5bn of investments will be directed to the housing sector, accounting for 25.5% of the total allocations.

The petroleum sector will receive investments worth EGP 1.7bn, representing 29.3%, whilst EGP 366.5m (6.4%) will be allocated to the higher education sector. This comes in addition to an allocation of EGP 276m (4.8%) to the local development sector, in addition to directing EGP 593.4m to other sectors, representing 10%.

The Ministry of Planning and Economic Development issued a report reviewing the features of the “Citizen’s Investment Plan” in the New Valley for FY 2020/21. This came as part of the nationwide roll-out of the plan for the second consecutive year, where it intends to activate community participation and involve citizens in planning and follow-up.

The report highlighted that the most important development targets in the New Valley Governorate’s housing sector in the 2020/21 plan will see EGP 283.8m directed towards water and sanitation. The most important projects in this sector are to complete the development of unplanned areas in the governorate with an area of ​​101.7 feddan.

This is in addition to the completion of the construction and paving of a 285 km road linking between Farafra and Kharga oases and Dairout city.

The most important electricity sector project, according to the report, is the completion of linking the eastern Al-Owainat region to the national electricity grid, which will cost a total of EGP 665m.

Additionally, the construction works of the governorate’s College of Veterinary Medicine and College of Agriculture will be completed, alongside renovations of the College of Human Medicine building.

Regarding the governorate’s local development sector under the 2020/21 plan, the report said that about EGP 94.8m was directed for pavement of internal roads. A further EGP 29.7m will be allocated to strengthen the governorate’s electricity networks.

The report added that 12 villages in the New Valley have benefited from the Decent Life Initiative. It noted that the volume of the initiative’s investments in the governorate amounted to EGP 400m, while the number of beneficiaries stands at about 203,000 citizens.

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