Egypt directs EGP 2.9bn investments to develop Qena, Sohag in FY20/21

Egypt allocated 2.9 billion Egyptian pounds in investments for the local development of Upper Egypt in fiscal year 2020/2021, according to the Egyptian Minister of Planning and Economic Development, Hala El-Saeed.

These investments include 1.3 billion pounds to Qena and  1.6 billion pounds to Sohag, of which 61 percent will be financed by loans and the remaining amount will be financed by the state treasury, El-Saeed added in a statement on Thursday.

Water and sanitation projects account for  2.5 billion pounds or 43% percent of the total investments allocated for the two governorates, while road and transportation projects make up 1.3 billion pounds or 22.3 percent of investments.

Investments to local units and environment enhancement sector reach  544.2 million pounds and  482.4 million pounds, respectively.