Egypt signs $2.5 mln social housing grant with World Bank

Egypt signed Sunday a $2.5 million grant with the World Bank Group in favour of a social housing scheme in the country.

Egyptian Minister of International Cooperation Sahar Nasr and Minister of Housing Moustafa Madbouli have signed the World Bank grant.

The grant is designated to finance all the technical studies and consulting for Egypt’s social housing project so as to speed up the implementation of 500,000 housing units this year as per President Abdel Fattah al-Sisi’s directives.