SFD Finances Infrastructure Projects With US$ 300 Mln

The Social Fund for Development (SFD) plans to finance infrastructure and labor-intensive projects in 15 governorates with US$ 300 million; US$ 200 million from the World Bank and US$ 100 million from the European Union, said Ghada Wali, secretary general of SFD.

Developing upper-Egypt governorates is on the top of SFD’s priorities. The Fund studied the experiences of many countries such as India and South Africa in establishing infrastructure projects.

The infrastructure projects will create more than 800 job opportunities for contractors; 60% of which will be aged under 29 years. SFD currently considers setting a new credit policy and strategy to be submitted afterwards to the Cabinet in the upcoming period.