Egypt allocates EGP 3.7 bln for public investments in South Sinai during FY2020/21
Egypt has allocated 3.7 billion Egyptian pounds during the current FY2020/2021 (ends in June) for public investments in South Sinai, with an increase of 50 percent compared to FY2019/2020, Minister of Planning and Economic Development Hala El-Saeed announced
These investments represent 1.4 percent of the state’s total public investments in FY2020/2021, according to El-Saeed.
She also noted that 6.8 billion pounds has been allocated in the FY2020/2021 budget to the Sinai Peninsula development project, which aims to achieve an economic, social, and security breakthrough in both North and South Sinai.
Of these investments, 1.4 billion pounds were allocated to the housing sector, representing 36.8 percent of total investments, and 450 million pounds were allocated to the higher education sector, representing 12 percent, according to the minister.
Additionally,327 million pounds were allocated to the transport sector, representing 8.7, and 322.6 million pounds were allocated for the tourism and antiquities sector, representing 8.6 percent, El-Seed expounded.
Moreover, 305 million pounds were allocated to the water resources and irrigation sector, representing 8.1 percent, and 965 million pounds were directed to other sectors, represents 25.7 percent, according to El-Saeed.
The governorate is also witnessing 169 development projects during the current fiscal year.
“Egypt’s medium-term sustainable development plan attaches great importance to spatial justice through developing education and health in Sinai, along with helping the governorate utilise its economic resources,” El Saeed explained.
Around 600 billion pounds has been spent on development, construction, and reconstruction projects in Sinai since 2014, according to a report issued by the cabinet in October.
The cabinet’s media centre said that the state views development in Sinai as a national security issue.
One of the most important projects that the report highlighted was the establishment of 46,949 housing units for Sinai residents, the building of 2,290 bedouin homes, and the construction of 500 housing units for the sake of developing the Ruwaizat area.
It also pointed to the establishment of a road network in the area with a total length of 2,400 km and the completion of four tunnels under the Suez Canal to connect Sinai with the canal’s cities.
