Egypt sets EGP 5b investment plan for Damietta governorate

Egypt’s Ministry of Planning and Economic Development earmarked five billion Egyptian pounds ($106 million) for a substantial investment plan in Damietta governorate, according to its statement on Sunday.

The Ministry unveiled the Citizen Investment Plan for Damietta governorate for the fiscal year 2023/2024 as part of the nationwide initiative to promote sustainable development and support Egypt Vision 2030.

The plan outlines 219 development projects encompassing various sectors. Trasport sector receives the largest share with 1.8 billion pounds, followed by housing sector with 554 million pounds.

The report shows investments of 521 million pounds in local development, 392 million pounds in the health sector, and 14 billion pounds in other sectors, excluding projects under the Egyptian rural development programme Decent Life.

Damietta residents will also benefit directly from the Decent Life initiative, a nationwide rural development programme. The programme’s first phase targets 28 villages in Damietta, reaching an estimated 243 thousand people.