World Bank supports Egypt’s social housing project with $1.3mln

World Bank contributions to the first phase of Egypt’s social housing project and the first phase of a sustainable sanitation program, each worth $500 million according to a statement by the Housing Ministry.

However the contribution of the World Bank in the second phase the sustainable of sanitation program reached $300 million.

Investment Minister Sahar Nasr and Housing Minister Assem el Gazzar met Wednesday with Mirza Hassan, Dean of the Board of Executive Directors at the World Bank, to discuss cooperation in implementing infrastructure projects during their current visit to Washington.

It also supported the second phase of the sanitation program, which cost $300 billion, the statement added.

Gazzar offered a detailed explanation of the different development projects currently being implemented in Egypt, including one to upgrade the national road network and another to develop the Suez Canal Corridor, it noted.

Nasr, for her part, stressed the importance of cooperation with the WB to support the infrastructure sector in order to improve the living conditions of Egyptians, as well as the investment climate, the statement said.