Egypt earmarks EGP 600 billion to spur rural development

Egypt is allocating more than 600 billion Egyptian pounds ($38.2 billion) for the national project for rural development for the next three to four years, Finance Minister Mohamed Maait announced on Wednesday.

This is the largest project of its kind in the world as it will cover more than half of Egypt’s population, Maait said in a ministry statement.

The rural development project will help improve the economic and social conditions of citizens living in rural areas and level up the services provided to them.

The state’s new budget includes allocation of 75 billion pounds for Haya Karima (A Decent Life) initiative, the minister added.