Tahya Misr fund launches $18 mln development scheme in Aswan

Big 5

Cairo-based Tahya Misr Fund’s executive committee recently held a meeting to discuss its investments, including the launch of an urgent development scheme worth 320 million Egyptian pounds ($18 million) in Aswan, a report said.

The meeting discussed cooperation between the fund and the investors willing to support the fund and the launch of a promotional campaign with a number of banks and non-banking financial entities, reported Daily News Egypt.

The development plan in Nasr Al-Nubia is estimated at 170 million pounds and includes housing units, drinking water, and sanitation projects. The fund’s executive committee agreed to direct the rest of the allocated funds to social projects, such as healthcare and hospitals.

The meeting also reviewed the fund’s future plan in the coming period, including the launch of new initiatives in different development fields.

Source: Trade Arabia