Egypt Banks’ Federation allocates EGP300 million for Helwan Slum Works

The Federation of Egyptian Banks decides to double its contribution to the upgrade of 15 informal areas in Helwan to 300 million Egyptian pounds (US$39 million).

According to Dalia Abdel Qader – President of the Community Development Committee at the FEB, the federation has approved doubling its contribution to the Helwan slum project.

Last year, FEB started working on the development of 15 slums in Helwan with 200.000 residents living there, she noted.

The banking official further said FEB had completed upgrading the infrastructure of Helwan’s 15 informal areas in addition to managing the removal of solid wastes in cooperation with competent authorities.

During FEB’s press conference held on Thursday, Abdel Qader referred that the federation would resume its development scheme since the decision to allocate more contribution is dedicated for education, health and illiteracy sectors in the coming period.

The federation is currently undertaking the project to develop slums across Egypt in cooperation with the Military Works Division of the Egyptian Armed Forces’ Engineering Authority, Cairo governorate, Ministries of Urban Development and of Local Development, and Sabbour Consulting Office.