Egyptian military production ministry signed a cooperation protocol on Sunday to establish 200 commercial units in New Valley governorate.
The protocol was signed between military production ministry and Tahya Misr Fund (Long Live Egypt), New Valley governorate, and Egyptian Social Development Fund (SFD).
It was signed by Minister Mohamed El-Assar, governor Mahmoud Ashmawy, Secretary General of the SFD Soha Soliman, and Executive Director of Tahya Misr Fund, Mohamed Ashmawy.
Hereby the protocol, military production ministry is set to establish the units while Tahya Misr Fund would provide necessary fund for the project which is estimated at 8.9 million pounds.
The governorate is charged with facilitating the procedures of establishing the units while the SFD is set to choose who would benefit from the units besides granting them necessary loans with monthly premiums over six years.
The 200 units is set to be established in different five locations at the governorate with the space of 1,052 square metres per each location. Each location is set to encompass 38 units and 34 outlets including all utilities.