Egypt to direct EGP 8.2bn for Sinai development in FY20/21

The Egyptian government  seeks to pump 8.22 billion investments into  developing North and South Sinai during fiscal year 2020/2021, Hala El-Saeed said.

The government investments increased  57.3 percent from 5.23 billion pounds in FY19/20, the Minister of Planning and Economic Development added,

North Sinai has been assigned  4.54 billion pounds of the total planned government investments for FY20/21, while 3.68 billion pounds has been allocated to the development of South Sinai, El-Saeed added.

The services sector accounted for 30.8 percent or 1.445 billion pounds of total government investments allocated to North Sinai, followed by the agriculture and land reclamation sector by 14.3 percent ( 648.8 million pounds), electricity sector by 11.1 percent (505.5 million pounds), as well as water and real estate sectors by 10 percent each.

In addition, the water sector made up 23.6 percent or  869.1 million pounds of total government investments allocated to South Sinai, followed by the other services sector by 17.6 percent  ( 646.8 million pounds), the agriculture sector by 15 percent ( 554.5 million pounds), and the education services sector by 14.5 percent (532.6 million pounds).